MOSCOW: According to the official sources, Russian President Vladimir Putin signed a decree extending certain special economic actions against countries that have imposed sanctions on the Russian Federation until December 31, 2021, this statement was released on the official website of legal information.
In addition to this, the government has been ordered to make sure the implementation of the decree and, if necessary, make proposals to change the period of validity of these counter-sanctions.
The process of sanctioning begun in March 2014, due to the situation in Ukraine, the European Union and a number of countries, including the United States, Canada, Australia, Japan, Switzerland, New Zealand, Iceland, began to impose sanctions on Russia.
In addition to this, it included sanctions lists of Russian individuals and legal entities, this included freezing of accounts, ban on entry of these individuals and legal entities.
In addition, the so-called sectoral sanctions were introduced, the assets of the companies falling under them were not frozen, but restrictions were imposed on medium and long-term lending, the sources reveal. On this prevailing issue, President of Russia Vladimir Putin signed a decree, in 2014 that was based on which the Russian government imposed a ban on imports of a number of food products from the United States, the European Union, Norway, Australia, and Canada.
As the EU countries extended sanctions against Russia on June 22, 2015, on June 24, Putin extended the food embargo for another year. Consequently, it was extended three times, most recently on June 24, 2019, until the end of 2020.
In addition to this, Putin has also Putin extended counter-sanctions until December 31, 2020, and altered the norms of the original decree on counter-sanctions from August 6, 2014, and the decree from October 22, 2018, on counter-sanctions against Ukraine.