A group of Communist Party MPs have drafted a bill that would toughen state control over food prices as the media warned of speculators’ attempts to take advantage of the situation with sanctions on US and European food products.
Switzerland has issued an expanded sanctions list against Russia which includes 5 banks, several companies and 11 Russian citizens. The move comes as the country doesn’t want to be used to bypass European sanctions on Moscow.
Russia’s food embargo, imposed in response to Western sanctions, will not be reversed until Moscow decides the country’s national security is no longer at risk, said Russian Deputy Prime Minister Arkady Dvorkovich.
Russia’s Finance Ministry is ready to extend by two months the deadline for international payment systems Visa and MasterCard to set up domestic processing for Russian card holders, according to Deputy Minister Alexei Moiseev.
Russia’s Foreign Minister Sergey Lavrov said that the West started its “irrational attacks on Russia long before” this spring’s events in Ukraine, but insisted that Moscow is seeking to avoid “spiraling sanctions” with the EU and the US.
Foreign rating agencies may need to set up subsidiaries in Russia instead of branches or representative offices, so their operations could be subject to Russian legislation. It is seen as another attempt by Russia to better control its domestic finances.
Switching over to EU trade standards and nixing duty-free trade with Russia will cost Ukraine €165 billion over the next 10 years, President Putin warned at a meeting with President Petro Poroshenko in Minsk on Tuesday.
Russia doesn’t want to escalate tit-for-tat sanctions with the West, but is ready to do whatever is necessary to protect its legitimate interests, including those of national security in all its dimensions, Russia’s FM told The Daily Telegraph.
Communist Party MPs have prepared a bill detailing Russia’s exit from the World Trade Organization, claiming membership leads only to problems and promotes attempts at the ‘external management’ of the national economy.