Putin promulgates a law to respond to sanctions against Russia

Russian President Vladimir Putin today promulgated a law granting broad powers to the government and the Kremlin chief himself to respond with economic measures to the sanctions taken against Russia by other countries.

The legislation, recently approved by the two chambers of Parliament, allows the president and the executive to suspend cooperation with states hostile to Russia and with organizations that are “directly or indirectly” under the jurisdiction of those countries.

The law also opens the door to the prohibition and restriction of imports and exports of raw materials to those companies under the jurisdiction of hostile countries.

The head of the Kremlin may from now on prohibit and limit the participation of foreign organizations in public tenders and privatizations.

Finally, the law allows the president of Russia to take “other measures” to respond to the sanctions taken against this country.

On the other hand, the regulations specify that the importation of vital products that do not have analogues in Russia, in reference to medicines and medical equipment, among others, can not be prohibited.

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