Russia announces commodity export ban on 200 products

Moscow implemented an export ban overnight covering over 200 goods arguing that it was needed to "maintain stability on the Russian market".

Nevertheless, sales of energy and materials, its largest hard currency earners were spared.

The ban was to remain in place until the end of 2022.

A waiver was being contemplated for member countries of the Eurasian Economic Union, which aside from Russia include Armenia, Belarus, Kazhakstan, Kyrgyzstan.

Aside from energy and wheat, Russia was a top global exporter of precious and industrial metals and wood.