Supervisor Elham AbolFateh
Editor in Chief Mohamed Wadie

Washington Bans Export of Luxury Goods to Russia, Belarus

Sat 12 Mar 2022 | 11:48 AM
Omnia Ahmed

U.S. Department of Commerce imposed new controls on the exports of their luxury goods to Russia and Belarus, Department of State Spokesperson Ned Price announced on Friday.

"We have also imposed an import ban on Russian alcohol, seafood and non-industrial diamonds," Price revealed, asserting that the US will remain committed to Ukraine.

"We are and we will remain committed to and united with Ukraine," he said. "There will be no relief from sanctions or other costs we have and will continue to impose on Russia until Putin reverses course and relents in his brutal aggression."

Washington's decision came after the EU also announced the ban on the exports of luxury products to Russia.

Last Thursday, Kremlin spokesman Dmitry Peskov has stated that Russia’s economy was experiencing a shock due to sweeping sanctions imposed due to the Russian invasion of Ukraine.

“Our economy is experiencing a shock impact now and there are negative consequences, they will be minimised,”  Peskov told reporters on a conference call.

Peskov described the situation as turbulent, but asserted that the measures were being taken to soften the impact of what it described as an “absolutely unprecedented” economic war being waged against Moscow.

“This is absolutely unprecedented. The economic war that has started against our country has never taken place before. So it is very hard to forecast anything.”