General Discussion
Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsMoscow retaliates against Western sanctions with export bans
(Reuters) - Russia sought on Thursday to retaliate against Western sanctions imposed over its invasion of Ukraine by banning exports of certain goods and agricultural commodities.
Exporting telecom, medical, auto, agricultural, electrical and tech equipment, as well as some forestry products, will be banned until the end of 2022.
"These measures are a logical response to those imposed against Russia and are aimed at ensuring uninterrupted functioning of key sectors of the economy," the economy ministry said.
Further measures could include restricting foreign ships from entering Russian ports and allowing Russian airlines to register jets leased from Western firms as their own property, the government said.
https://finance.yahoo.com/news/russia-suspends-exports-tech-telecoms-120643963.html
lame54
(35,268 posts)keep_left
(1,780 posts)Dave says
(4,616 posts)30% of the worlds wheat.
keep_left
(1,780 posts)...but I think our country will manage. Others will probably feel more pain. Paul Krugman just wrote an op-ed about this (paywalled, read in an incognito window).
https://www.nytimes.com/2022/03/08/opinion/putin-russia-ukraine-economy-sanctions.html
womanofthehills
(8,667 posts)Russia supplies most of the critical rare earth elements needed for EVs and solar panels and they said until 2023 they will only sell to Russian Federation countries.
LenaBaby61
(6,973 posts)What do we exactly GET from that country with an economy the size of Italy's?
😴😴
PortTack
(32,716 posts)womanofthehills
(8,667 posts)Russia produces 25-30 % of worlds palladium. Auto makers need it.
https://www.msn.com/en-us/money/markets/palladium-propelled-to-record-highs-by-russia-supply-concerns/ar-AAUJfcX
dalton99a
(81,406 posts)SheltieLover
(57,073 posts)Hugin
(33,060 posts)Now I know. Critical stuff.
Cha
(296,893 posts)💙💛
EX500rider
(10,810 posts)😂
EX500rider
(10,810 posts)Smooth move that should help
JI7
(89,241 posts)womanofthehills
(8,667 posts)Because they made a big deal with China to buy their oil.
MOSCOW/SINGAPORE, Feb 4 (Reuters) - President Vladimir Putin unveiled new Russian oil and gas deals with China worth an estimated $117.5 billion on Friday, promising to ramp up Russia's Far East exports at a time of heightened tension with European customers over Ukraine.
Russia, already Beijing's No. 3 gas supplier, has been strengthening ties with China, the world's biggest energy consumer, reducing its dependence on its traditional European energy customers.
https://www.reuters.com/world/putin-tells-xi-new-deal-that-could-sell-more-russian-gas-china-2022-02-04/
oasis
(49,339 posts)LenaBaby61
(6,973 posts)CrackityJones75
(2,403 posts)BGBD
(3,282 posts)and then instead banned....checks notes....Russian tractors.
MichMan
(11,870 posts)womanofthehills
(8,667 posts)MichMan
(11,870 posts)Aircraft industry however does. Costs well over $30 per pound.