Published: July 26, 2023 11:17 am
Author: RT
The move comes as part of new restrictions against “unfriendly” states
Russia has introduced fresh trade restrictions targeting imports from so-called “unfriendly” countries, the Ministry of Economic Development announced on Tuesday.
As part of the move, the government has banned imports of processed fish and seafood from the EU, the US, and Norway. The restrictions will “free up certain market niches for domestic producers whose capacity allows them to fully meet the needs of the domestic market,” according to a statement on the ministry’s website.
The government has also hiked customs duties from 12.5% to 20% for wines originating from “unfriendly” countries. Russian authorities are aiming to promote domestic wine production and boost imports from “friendly” and “neutral” states, with the statement specifically mentioning Chile, Armenia, and South Africa.
Import duties have also been raised on certain construction materials.
READ MORE: Russia and EU extend mutual sanctions
According to the Ministry of Economic Development, the restrictions have been introduced in response to Western sanctions against Russia and will remain in force until at least the end of the year.
For more stories on economy & finance visit RT’s business section
