As part of Russia’s response to sanctions imposed on them over their invasion of Ukraine, the country on Thursday announced an export ban on more than 200 types of foreign-made products and equipment, until the end of the year. Contained in the export ban list includes technological communication, medical equipment, vehicles, agricultural and electrical equipment of more than 200 types of goods in total. According to Russia, they had to take this necessary measure to ensure stability in the Russian market.
The announcement reads, “The government has approved a list of imported goods and equipment that are temporarily prohibited from being exported from Russia. The decision will be effective until the end of 2022. It has been adopted as a follow-up to the presidential executive order on the application of special economic measures in foreign economic activity to ensure the security of the Russian Federation.
“The list includes over 200 products, such as technological, telecommunication and medical equipment, vehicles, agricultural machinery, electric equipment, as well as railway cars and locomotives, containers, turbines, metal and stone cutting machines, video displays, projectors, consoles, and switchboards. This measure is necessary to maintain stability on the Russian Market”.
The list also contained names of countries on its export ban which includes; Albania, Andorra, Australia, Canada, Members of the EU, Iceland, Japan, Liechtenstein, Micronesia, Monaco, Montenegro, New Zealand, North Macedonia, Norway, Singapore, San Marino, South Korea, Switzerland, Taiwan, China, Ukraine, Uk, Jersey, Anguilla, British Virgin Islands, Gibraltar, and United States of America.
A close examination of the names of countries included in the list, one would notice the absence of African countries. It’s surprising to me that no African nation was included, considering the fact that some of them at the UN General Assembly, had to vote against Russia’s invasion of Ukraine with Nigeria inclusive. Their exclusion on the list should indeed be a breath of fresh air for some of them. One can only imagine Russia’s reason for not including any African nation on its export ban list.
I can only imagine the implications the ban would have had if Nigeria was included knowing full well that they voted against Russia’s action on Ukraine at the UN assembly. It is a known fact that Russia is one of Nigeria’s biggest trade partners as trade between Nigeria and Russia is currently valued at over $2billion. Russia plays a vital role in Nigeria’s International trade as the Nation is one of Nigeria’s top sources for its imported items, especially food items. According to the National Bureau of Statistics, Nigeria imported goods from Russia are currently valued at N813.19 billion (over $2billion annualized).
Seeing all these benefits Nigeria enjoys from being in a close relationship with Russia, I am surprised at why they still went ahead to vote against Russia at the UN. Also imagine if Russia decides to include all African nations that voted against them at the UN on its export ban list, this would have spelled doom for most of them as they are more of consumers than manufacturers. This is why Professor Ndubuisi Ekekwe in one of his articles stated that African leaders need to have a nuanced approach as regards the Russian-Ukraine war, to avoid making rash judgments and decisions that will affect their country.
After releasing its export ban list, Russia also warned that assets owned by Western companies that have pulled out of their country will be nationalized. Russia’s President Vladimir Putin has come out to say that sanctions pelted out at Russia will bring about ” negative consequences” for the world’s markets because Russia is a major producer of agricultural fertilizers. In his words, “it is clear that at such moments, people’s demand for a certain group of goods always increases, but we have no doubt that we will solve all these problems while working calmly”.
