On May 31, Russia's Federation Council approved the bill on counter-sanctions against the US and other "unfriendly states". The document was adopted by the State Duma in the third final reading on May 22. The bill had already passed second reading, for which the amendments to the document had been drafted.
According to the amendments, the President of Russia can terminate or suspend the cooperation of the Russian Federation or of Russian companies with "unfriendly foreign states" and companies that are directly or indirectly owned (with over 25 percent ownership) by the organizations under the jurisdiction of such foreign states, in accordance with the decision of the President of Russia.
The document also stipulates a ban on the import into Russia of products or raw materials that originated from unfriendly foreign states or the specified companies. It also bans the export of these products and raw materials. The list of products is determined by the government.
The bill must now be signed into law by the President of Russia, Vladimir Putin.