Russia has published a list of countries it deems ‘unfriendly’ as it threatens economic retaliation for those who have taken part in implementing sanctions, following its invasion of Ukraine.
This extensive list includes 43 countries, plus all members of the European Union and NATO, now requiring ‘special authorization’ from the Kremlin to do business in Russia.
In addition to the United States, UK and France, Russia also mentions Australia, Japan, South Korea, Singapore and Taiwan.
Bianna Golodryga, Senior Global Affairs Analyst at CNN tweeted:
The Kremlin has approved a list of countries who have been “unfriendly” to Russia. They include:
Australia, UK, EU countries, Iceland, Canada, Liechtenstein, Monaco, New Zealand, Norway, Korea, San Marino, Singapore, USA, Taiwan, Ukraine, Montenegro, Switzerland, Japan https://t.co/YQi2SPyYJb
— Bianna Golodryga (@biannagolodryga) March 7, 2022
Tass – a state-run Russian news agency – defined the list as ‘foreign states and territories that commit unfriendly actions against Russia, its companies, and citizens.’
The Kremlin has stated that countries on this list will require explicit permissions from the Russian government to do business, including real estate purchases, financial trades and loan deals.
Countries on the list owed debts by Russia will now be paid in rubles instead of the currency in which the bonds were originally issued.
The announcement depicted this move as a tough response to countries that have enacted sanctions against the Russian Federation following its invasion of Ukraine 14 days ago.
Experts say there is little the country can do to avoid the impending economic collapse following its invasion of Ukraine. Russia’s currency has almost halved in value in the wake of the huge sanctions placed on the country in the past week, with inflation rising to 20%.
A large number of multinational companies have announced they will be withdrawing trade with Russia – including Visa and Mastercard, confirming over the weekend that they will no longer aid payments made on Russian cards abroad.
In response to the post, Twitter users have noted that San Marino is on the list – the world’s fifth-smallest country. One person joked ‘if San Marino is on the list, I might as well be on the list.’