On Monday, the Russian government approved a list of 48 countries it considers “hostile”. Belgium is also on the list, as are the rest of the European Union. This could have consequences for companies active in Russia and with suspended accounts.
The list lists countries that have imposed severe economic sanctions on Russia, which the government calls “hostile acts,” and follows Friday’s presidential decree. In addition to all EU member states and Ukraine, Switzerland, the United Kingdom, the United States, Japan and Australia are also on the list.
The countries on the lists will face counter-sanctions. The Russian government, companies and individuals indebted to parties of these countries must repay it not in foreign currency, but in rubles. The Russian currency has lost 45 percent of its value since January. This amount must be deposited in a specially opened Russian bank account. This scheme applies only to repayment installments of more than ten million rubles per month (about 60 thousand euros per month).
In addition, all transactions conducted by Russian companies with citizens and companies of the countries on the list must now be approved by a special oversight commission of the Russian government, the Russian state news agency reported. Ria†
