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The document establishes the legal basis for adopting special economic measures, determines the type and scope of these measures, and the way that they will be introduced or revoked.
In addition, the President holds the power to make decisions regarding the necessity of introducing special economic measures that concern a foreign state and/or foreign organisations, foreign citizens, and persons without citizenship permanently residing on the territory of a foreign state, as well as the duration of these measures and their revocation. Along with this, the government cabinet and in certain cases the Central Bank in cooperation with the cabinet will establish a list of concrete actions some of which, were they to be executed, would result in an interdiction, other actions which must be executed, and other such restrictions.
The law provides that the Federation Council and the State Duma must participate in initiating the process for adopting, modifying and revoking special economic measures.
December 30, 2006