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Ground Report | New Delhi: Russia list of unfriendly countries; Russia has said all trade deals with companies and individuals from “hostile countries” will now have to be approved by a government commission.
Moscow announced on Monday that it had approved a list of countries and territories taking "hostile actions" against Russia, its businesses and its citizens following tough economic sanctions linked to the Ukraine conflict.
The list follows a March 5 presidential decree authorizing the Russian government, businesses and citizens to temporarily pay in rubles foreign currency debts owed to foreign creditors from “hostile countries.”
Russia issues list of unfriendly countries
According to a government statement, the list includes Albania, Andorra, Australia, Britain including Jersey, Anguilla, British Virgin Islands, Gibraltar, European Union member states, Iceland, Canada, Liechtenstein, Micronesia, Monaco, New Zealand, Norway, South Korea, San Marino, North Macedonia, Singapore, United States, Taiwan, Ukraine, Montenegro, Switzerland and Japan.
For this, a debtor can ask a Russian bank to create a special "C" ruble account in the name of a foreign creditor and transfer payments to him in ruble equivalent at the central bank's exchange rate on the day of payment.
The new order is temporary and is valid for payments of over 10 million rubles (about $72,202). Russia's war on Ukraine has sparked outrage from the international community, with the European Union, the United Kingdom and the United States, among others, imposing a series of economic sanctions on Moscow.
At least 364 civilians have been killed and 759 others injured in Ukraine since Russia launched a war against the Eastern European country on February 24, according to UN figures, with the real toll, feared to be higher.
More than 1.7 million people have fled Ukraine to neighbouring countries, according to the UN refugee agency.
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