Russian President Putin lists unfriendly countries, vows ‘decisive actions

Russia President Vladimir Putin has listed countries and corporate bodies that have either sanctioned the country or pulled out of deals as “unfriendly countries,” and has not ruled out the possibility of taking decisive actions against them.

In a state of the nation address on Monday, Putin said companies willing to do business with Russia in future will have to be approved by a government commission.

Putin also approved a list of countries and territories taking “unfriendly actions” against Russia, its companies and citizens in the wake of severe economic sanctions over its invasion of Ukraine.

The list follows a presidential decree on March 5 allowing the Russian government, companies and citizens to temporarily pay foreign currency debts owed to overseas creditors from “unfriendly countries” in roubles.

According to a statement issued by Putin’s office, the government listed the following countries as “unfriendly nations who are against Russia to include Albania, Andorra, Australia, Great Britain, including Jersey, Anguilla, British Virgin Islands, Gibraltar and all European Union member states.

Others include Iceland, Canada, Liechtenstein, Micronesia, Monaco, New Zealand, Norway, South Korea, San Marino, North Macedonia, Singapore, United States, Taiwan, Ukraine, Montenegro, Switzerland and Japan.

To make such foreign debt payments, the government said debtors should open a special type of rouble account with a Russian bank and transfer the rouble equivalent of the foreign currency amount owed, according to the central bank’s official exchange rate on the day of payment.

This temporary arrangement for paying foreign debts applies to payments exceeding 10 million roubles ($76,000) a month.

Russia’s war on Ukraine has been met with outrage from the international community, with the EU, UK, and US among others, imposing a range of economic sanctions on Moscow.