Russia to ban export of some raw materials

In this decree it is said that the purpose of the decision is to prepare the security of the Russian Federation and the continued functioning of industry”.

The Russian cabinet must decide in the next 48 hours which seats it affects.

The decision will be implemented by the end of 2022.

It has been made public just hours after the United States has imposed ban on Russian oil and gas imports, and after the UK has said it will gradually avoid dependence on Russian oil.

The new measures will likely make goods markets worse.

In addition to massive oil exports, Russia is also a global supplier of cereals and metals.

The director of the National Intelligence Agency in the United States, Avril Haines, has warned that sanctions and stops on the battlefield, are unlikely to stop Russian President Vladimir Putin from his intention to invade Ukraine and may even increase his offensive to this state.

Speaking at an American Congress hearing on threats to global security, Haines has said on March 8th that the escalation of war costs in Ukraine, which so far may have gone to thousands of lost lives of Russians, could anger Putin and tïa change the view of what might be considered victory.

Our “Analists estimate that Putin is unlikely to stop from obstacles on the battlefield. On the contrary, it could escalate the” situation, Haines said.

Moscow's attack on Ukraine has started in the early hours of February 24th.

The Kremlin's action has stirred anger and has been condemned in many parts of the world.

The United States and its allies have responded with severe sanctions against Moscow. / REL