The Russian government has approved a list of ‘unfriendly’ countries and territories, amidst its invasion of Ukraine
Mounted under crippling sanctions, Russia’s economy has been plunged into crisis after the economic boycotts
Russia invaded Ukraine last month, but its forces were stalled by logistical errors and fierce opposition from Ukrainian troops.
Moscow – Russia on Monday, March 7 published an official list of foreign countries it considers to be “unfriendly,” Newsweek reports.
Business dealings in Russia involving these countries will now require special government authorization, Russia said, in a response to crippling sanctions imposed by Western nations over the invasion.
Russian prime minister, Putin, has sent the country’s forces into Ukraine amidst global outrage and sanctions.
The countries and territories considered “unfriendly” by the Russian government include Australia, Albania, Andorra, the United Kingdom, Anguilla, British Virgin Islands, Gibraltar, Iceland, Canada, Liechtenstein, Micronesia, Monaco, New Zealand, Norway, and Taiwan.
Others are the Republic of Korea, San Marino, North Macedonia, Singapore, the United States, Taiwan, Montenegro, Switzerland, and Japan.
Those on the list are considered to have taken unfriendly actions against Russia, Russian companies, and citizens.
All corporate deals with companies and individuals from the countries must now be approved by a Russian government commission – the Commission for Control over Foreign Investments, which was established in 2008 to monitor foreign investment in strategic sectors announced.
The decree states that Russian citizens and companies, the state itself, its regions, and municipalities that have foreign exchange obligations to foreign creditors from those on the list will be able to pay them in rubles.
The latest directive applies to payments exceeding 10 million rubles per month, or a similar amount in foreign currency.
The statement added that Russia’s government commission in charge of foreign investment must give authorization for deals with Russian residents.
