Russia threatens to terminate exports in response to West sanctions

Russian President Vladimir Putin has put the West on notice that he could terminate exports and deals in response to the sanctions burden imposed by the United States and allies over its military operation in Ukraine. Putin signed a broad decree on Tuesday which forbade the export of products and raw materials to people and entities on a sanctions list that he instructed the government to draw up within 10 days. The decree, which came into force with its publication, gives Moscow the power to halt exports or tear up contracts with an entity or individual it has sanctioned. The decree sets out retaliatory special economic measures in connection with the unfriendly actions of some foreign states and international organizations. Putin explicitly framed the decree as a response to what he cast as the illegal actions of the United States and its allies meant to deprive “the Russian Federation, citizens of the Russian Federation and Russian legal entities of property rights or restricting their property rights”.