Putin extends ban on specific Russian imports and exports until 2025

Originally signed by the Russian President on March 8, 2022, the decree aimed at ensuring the security of the Russian Federation through the application of "special economic measures in foreign economic activity."

Moscow: Russian President Vladimir Putin has signed a decree, extending a previous ban on the import and export of certain Russian raw materials and goods until 2025, according to a document published on the country’s official legal information portal.

The decree, on the application of “special economic measures in foreign economic activity with the aim of ensuring the security of the Russian Federation,” was originally signed by the Russian President on March 8, 2022. It imposed restrictions on the export and import of certain raw materials and products from Russia.

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The decree was meant to be valid until December 31, 2023. With the recent amendments, Putin has officially extended the decree until December 31, 2025, Xinhua news agency reported.

The list of products, which was later compiled by the government, includes technological, telecommunications, medical, and electrical equipment, agricultural machinery, nuclear reactors, fibre optic cables, metal processing machines, among others. Restrictions were also imposed on the export of certain types of timber to unfriendly countries.

The government said this decision was made to protect the domestic market.