President Putin signs Russian counter-sanctions into law

President Putin has signed a Russian bill into law which allows the Kremlin to sever relations or restrict trade with foreign states viewed as hostile to Russia (4 June).

Federal Law No 441399-7 ‘On Measures (Countermeasures) in Response to Unfriendly Actions of the USA and (or) other Foreign States’ enables a ban to be imposed on goods from the US and other ‘unfriendly’ states, as well as preventing citizens of those states from taking part in the privatisation of Russian property.

Two Russian bills were proposed in response to Washington’s sanctions on prominent Russian oligarchs and quasi-state businesses in April. The latter were designed to punish Russia for its alleged meddling in the 2016 presidential election and other ‘malign’ activities.

Draft Bill No. 464757-7 ‘On Amendments to the Criminal Code of the Russian Federation’, criminalising those who refuse to provide business or services to a Russian individual on the grounds of US or other sanctions, has been postponed following pressure from business lobby groups.