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11 Apr, 2018 15:22

Russia should ban American products in response to US sanctions – PM Medvedev

Russia should ban American products in response to US sanctions – PM Medvedev

Moscow may ban US goods as part of a response to the latest sanctions imposed by Washington, Prime Minister Dmitry Medvedev has suggested.

“These can be not only the American securities… but also a whole range of other goods that are delivered to the Russian market or produced by American businesses on the territory of our country,” Medvedev said, answering questions from the Russian State Duma on Wednesday.

The prime minister stated that Moscow's possible response to new Washington sanctions should be adequate and measured. "Response measures should be well-calculated, should not harm ourselves, they must be adequate," he said.

Russia and the US do not have trade agreements, but both countries are members of the World Trade Organization. Trade between the two countries amounted to $24 billion by the end of 2017, of which $17 billion was Russian exports to America.

Russia delivers oil, metals, nuclear fuel, mineral fertilizers and fish to the US, while buying mostly aircraft, aircraft engines and components from Boeing. Before the sanctions, Russia was also buying oil-drilling equipment from the US.

The Trump administration issued an expanded list of sanctions on Friday, targeting Russian businessmen and companies. The detailed list can be found in RT’s article.

For more stories on economy & finance visit RT's business section