14 August 2014 - The Embassy of the Russian Federation in Manila clarified that Russian sanctions do not affect Philippine companies. It emphasized that Russia advocates free and transparent market global economy.

Russian President Vladimir Putin signed on 06 August 2014 an Executive Order “On Applying Certain Special Economic Measures to Ensure the Security of the Russian Federation.” The Executive Order is a one-year ban on import of certain agricultural products, raw materials and food products (beef, pork, fruits and vegetables, poultry, fish, cheese, milk and dairy products) that originate from the United States, the European Union, Canada, Australia and Norway which declared economic sanctions against Russian organizations and individuals.

The full coverage of Russia’s response to the economic sanctions imposed by the United States, the European Union and other countries can be accessed through www.government.ru/en/news/14199. END