Sanctions against Russia
73 Commons Library Research Briefing, 22 March 2023
anti-Semitic, anti-LGBTQI and anti-Ukrainian views and which has reportedly
sent foreign fighters to join Russian separatists in Ukraine.
324
In late June/ early July the Government announced that further Russian
Government officials, members of President Putin's family, including alleged
partner Alina Kabaeva, and several additional oligarchs would be subject to
sanctions.
325
The Government has also imposed a prohibition on Russian gold
imports (effectives as of 30 September 2022), in line with measures
implemented by the US, Canada, Japan, and the UK.
326
The Australian government also announced at the end of October 2022 that
Export Finance Australia would be prohibited from extending any loans, or
other financial assistance, that supports trade with, or investment in, Russia
and Belarus.
327
In concert with allies and coinciding with the first anniversary of the Russian
invasion in February 2023, the Australian government announced additional
sanctions against a further 90 government officials and 40
organisations/companies across the defence and aerospace sectors.
328
Australia has also joined allies in sanctioning Iranian companies and
individuals involved in the production and transfer of unmanned aerial
vehicles (UAV) to Russia for use in Ukraine.
329
Most favoured nation status
In line with G7 countries, Australia announced on 31 March 2022 that it would
withdraw most favoured nation status from Russia and Belarus. Effective as of
25 April 2022, an additional 35% tariff will be applied to all imports from
Russia and Belarus.
330
That measure was extended for a further 12 months on
20 October 2022.
331
New Zealand
On 7 March 2022 the New Zealand Prime Minister, Jacinda Ardern, announced
that the Government would introduce legislation to allow it to bring "first of
its kind" autonomous sanctions against Russia.
Such measures will provide the ability to freeze the assets of Russian
individuals and entities in New Zealand, prevent people and companies from
moving their assets to New Zealand to escape sanctions regimes imposed
elsewhere, and to stop Russian-linked aircraft and vessels from entering New
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Australian Ministry of Foreign Affairs, Press release, 18 May 2022
325
Australian Government, Federal Register of Legislation, 28 June 2022 and Prime Minister of
Australia, Press release, 4 July 2022
326
Prime Minister of Australia, Press release, 4 July 2022
327
Australian Ministry of Foreign Affairs, Press release, 20 October 2022
328
Australian Government, Federal Register of Legislation, 23 February 2023
329
Australian Government, Federal Register of Legislation, 24 January 2023
330
Australian Ministry of Foreign Affairs, Press release, 31 March 2022
331
Australian Ministry of Foreign Affairs, Press release, 20 October 2022
