sanctions 24 May 2018

Russian parliament considers counter-sanctions bills

The second reading of a Russian bill (Draft Bill No. 464757-7 ‘On Amendments to the Criminal Code of the Russian Federation’), which makes it a crime to refuse to provide business or services to a Russian individual on the grounds of US or other sanctions, has been postponed, following pressure from business lobby groups (17 May). The bill proposes a penalty of up to four years’ imprisonment, or a fine of up to RUB 200,000. The first reading of the bill was passed by the lower house of the Duma on 16 May.

The Russian parliament has proposed two bills in response to sanctions from Washington on prominent Russian oligarchs and quasi-state businesses, designed to punish Russia for its alleged meddling in the 2016 presidential election and other ‘malign’ activities. The lower house of the Duma has passed Draft Bill No 441399-7 ‘On Measures (Countermeasures) in Response to Unfriendly Actions of the USA and (or) other Foreign States’, which allows the Kremlin to impose a ban on goods from the US and other states viewed as hostile to Russia. It also prevents citizens of those states from taking part in the privatisation of Russian property. The latest draft is a dilution of the original proposal, which advocated a wider ban on a range of US goods, including US software, tobacco and alcohol and some medicines. The bill now passes to the upper house for consideration before it is signed into law by President Vladimir Putin.

 

GDPR notice: We hope you have enjoyed this WORLDECR NEWS ALERT. To make sure that you continue to receive our alerts, you’ll need to ‘opt in’ to our service. To do so, please complete one of the ‘opt in’ emails we have already sent you from info@worldecr.com or email us and we’ll set it up for you.