Western countries discuss a total ban on exports to Russia - Bloomberg
Western countries may be preparing the toughest measure against Russia - a complete ban on exports to the country, the BBC News Russian service's Telegram channel, citing Bloomberg.
Exports to Russia are now allowed: anything can be imported, except goods whose supplies are restricted by sanctions. According to the agency, a completely different regime is being discussed: a complete ban on exports, allowing the delivery of certain categories of goods as an exception.
Such exceptions could include, for example, medicines and agricultural products.
This idea is being discussed by the G7 countries ahead of the May summit in Japan, with the US taking part in the talks.
So far it is only a discussion - the proposal may change at any time, the agency explains. The more so, the negotiations are unlikely to be easy, because European countries and many companies still trading with Russia would also suffer from such a ban. The country imports $66 billion worth of goods from the US, Canada, the EU and Japan.
Another cause for concern: Such a decision will bring Russia and China even closer together.
In recent months, economists and European officials alike have said that the potential for imposing new sanctions is almost exhausted. Already imposed sanctions are poorly enforced, and banned chips and other dual-use goods are entering Russia, for example.
In such a situation, Western countries may switch from imposing new sanctions to stricter enforcement of existing ones. For example, they have already begun to impose sanctions on Europeans trading in subsanctioned goods with Russia.
Perhaps, in a situation where everything is banned, illegal flows of goods will be easier to control. What will happen in the case of such a ban with parallel imports is not yet clear.
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Western countries discuss a total ban on exports to Russia - Bloomberg
Western countries may be preparing the toughest measure against Russia - a complete ban on exports to the country, the BBC News Russian service's Telegram channel, citing Bloomberg.
Exports to Russia are now allowed: anything can be imported, except goods whose supplies are restricted by sanctions. According to the agency, a completely different regime is being discussed: a complete ban on exports, allowing the delivery of certain categories of goods as an exception.
Such exceptions could include, for example, medicines and agricultural products.
This idea is being discussed by the G7 countries ahead of the May summit in Japan, with the US taking part in the talks.
So far it is only a discussion - the proposal may change at any time, the agency explains. The more so, the negotiations are unlikely to be easy, because European countries and many companies still trading with Russia would also suffer from such a ban. The country imports $66 billion worth of goods from the US, Canada, the EU and Japan.
Another cause for concern: Such a decision will bring Russia and China even closer together.
In recent months, economists and European officials alike have said that the potential for imposing new sanctions is almost exhausted. Already imposed sanctions are poorly enforced, and banned chips and other dual-use goods are entering Russia, for example.
In such a situation, Western countries may switch from imposing new sanctions to stricter enforcement of existing ones. For example, they have already begun to impose sanctions on Europeans trading in subsanctioned goods with Russia.
Perhaps, in a situation where everything is banned, illegal flows of goods will be easier to control. What will happen in the case of such a ban with parallel imports is not yet clear.
newsgeorgia.ge
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