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Following Russia’s unlawful recognition of the Ukrainian territories calling themselves “Donetsk People’s Republic” and “Luhansk People’s Republic” and Russia’s unlawful invasion of Ukraine, sanctions were announced against Russia and Belarus first and foremost by the EU and the US, but also by many other countries as well.

Russia has adopted countermeasures through various presidential decrees and government orders, which are mainly aimed primarily aiming at protecting the capital market, but also at restricting the export of goods.