Moscow can be pressured to retaliate, Dmitry Medvedev says
Russia might give up the Ukraine grain deal if the Group of Seven (G7) nations place a complete ban on the export of products to the nation, former president and present deputy chairman of the Russian Security Council, Dmitry Medvedev, wrote in his Telegram channel on Sunday.
According to the senior official, Moscow can also retaliate by limiting its personal exports to Western states.
“The G7 idea of a total ban on exports to our country is excellent, in that it also implies a reciprocal termination of exports from our country in the most sensitive categories for the G7. In this case, the grain deal and many other things they need will end for them,” Medvedev wrote.
Earlier this week, reviews emerged that the G7 nations, specifically the UK, Germany, Italy, Canada, the US, France and Japan, are contemplating an embargo on most exports to Russia, excluding a couple of essential classes corresponding to medicines, meals, and agricultural merchandise.
Currently, exports from Western states to Russia are, by default, allowed, whereas restrictions apply solely to items focused by sanctions. According to the reviews, the G7 plans to place this ban ahead on the group’s subsequent summit in Japan, scheduled for May, and to influence the broader EU to hitch the motion.
On Friday, nonetheless, a senior EU official instructed reporters in Brussels that the prospect of a complete export ban was mentioned on the newest G7 ministerial assembly in Japan. Later the identical day, Russian presidential spokesman Dmitry Peskov stated that strikes to utterly ban exports to Russia might solely “further exacerbate the global economic crisis.”
Banning exports to Russia would see many of the remaining commerce flows from Western states to the nation scrapped. While the quantity of EU and G7 exports to Russia has nearly halved over the previous 12 months amid present restrictions, practically $70 billion price of products from these nations remains to be exported to the nation, in response to Geneva-based Trade Data Monitor.
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(RT.com)