Russia includes Ireland on list of ‘hostile countries’

Ireland has been named to a Russian government list of “hostile countries and territories” following EU sanctions.

he list includes the United States, the 27 EU states, the United Kingdom, Ukraine and many other countries, including Switzerland, Norway, Japan, South Korea, Australia, Singapore and Taiwan.

According to Russia’s state-run TASS news agency, the countries are accused of “hostile actions against Russia, its companies and its citizens”.

The Kremlin approved the list on Monday. This means that foreign creditors from countries on the list can now be paid in rubles for all debts owed to them by Russian citizens, companies, regions or the state itself.

Moscow this weekend introduced a decree allowing the Russian state and companies to pay foreign creditors in rubles after international sanctions cut off Russian banks, oligarchs, politicians and the central bank from global payment systems.

The decree applies to payments over 10 million rubles per month, TASS said.

The ruble fell to a new low against the dollar on Monday in non-Russian markets, as Moscow stock exchanges were closed for trading due to a public holiday.

The ruble weakened to 133.5 to the dollar after closing at 121.037 on Friday, according to data from trade news firm Refinitiv.

The ruble has lost more than 40% of its value against the dollar since the start of the year, with losses accelerating after the Russian invasion of Ukraine on February 24.

It is becoming more and more difficult to exchange the ruble after several rounds of sanctions.

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