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Following the start of Russia’s special military operation in Ukraine on February 24, the US, the EU, the UK, Japan and many other allies stepped up the economic sanctions on Moscow with the aim of suffocating the country, thus forcing Kremlin authorities to put an end to the current bilateral conflict.
Russia's Prime Minister Mikhail Mishustin has announced on Wednesday that his country is preparing a package of more than 100 measures to counteract the effects of the economic sanctions imposed by the West.
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In statements to the press, the official detailed that in order to put the initiatives into force, a financing close to one trillion rubles (about nine billion dollars) is foreseen.
“On the instructions of President Vladimir Putin, a whole series of measures have been drawn up, many of them included in the draft plan of priority actions. It is a very flexible document, which will be constantly updated and implemented in stages, depending on the situation,” Mishustin said.
He also said that the small and medium-sized enterprises in the Eurasian nation are included to receive support within the priority action plan.
Russia: Russia considers countermeasures in response to Western sanctions https://t.co/fWlII2DojI -via @bakermckenzie pic.twitter.com/7ew7qudv3x
— @TheDPSAdvisors (@thedpsadvisors) March 15, 2022
According to Mishustin, Moscow also plans to propose to its partners in the Eurasian Economic Union, made up of Russia, Belarus, Kazakhstan, Armenia and Kyrgyzstan, the possibility of raising the maximum limit for duty-free imports of goods within the framework of e-commerce.
Following the start of Russia’s special military operation in Ukraine on February 24, the United States, the European Union, the United Kingdom, Japan, and many other allies stepped up the economic sanctions on Moscow with the aim of suffocating the country and thereby forcing Kremlin authorities to put an end to the current bilateral conflict.
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