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The Commonwealth government has introduced sanctions on 11 additional Russian institutions in response to the country’s unlawful invasion of Ukraine.
Russian governments and financial entities are the target of new sanctions imposed by the Commonwealth government, building on a swathe of initial restrictions introduced after the Kremlin’s initial incursion of Ukrainian sovereignty.
Added to the list of sanctioned individuals and institutions are the Russian National Wealth Fund and the Russian Ministry of Finance, which, along with the previously sanctioned Central Bank of Russia, are responsible for issuing and managing sovereign debt.
Other institutions to be hit by this latest wave of sanctions include:
- Sberbank;
- Gazprombank;
- VEB;
- VTB;
- Rosselkhozbank;
- Sovcombank;
- Novikombank;
- Alfa-Bank; and
- Credit Bank of Moscow.
According to Minister for Foreign Affairs Marise Payne, these institutions account for approximately 80 per cent of all banking assets in Russia.
The government has also committed to listing individuals and oligarchs of “economic and strategic significance to Russia”, known to have supported and benefited from President Vladimir Putin.
Adding to the 41 oligarchs and immediate family members previously targeted by financial sanctions and travel bans, Australia has now listed two billionaires with links to business interests in Australia — Oleg Deripaska and Viktor Vekselberg.
“In doing so, we have continued our close co-operation with key international partners,” Minister Payne said.
“We welcome the principled stand taken by Australian companies in announcing moves to cut ties with Russia in protest of Moscow’s illegal, indefensible war against Ukraine.”
Minister Payne concluded by reiterating Australia’s “unwavering support” for the people of Ukraine, as well as the nation’s sovereignty and territorial integrity.
“We will continue to move with partners on co-ordinated sanctions, and to constrain funds for President Putin’s unlawful war,” Minister Payne concluded.
Australia’s support for Ukraine has also included the delivery of both lethal and non-lethal military equipment.
A Royal Australian Air Force C-17A Globemaster III recently unloaded the second tranche of military supplies to Ukraine as part of Australia’s commitment to supporting the nation’s resistance against Russia’s invasion.
The cargo reportedly included missiles, ammunition, and medical supplies.
Details regarding the nature and quantity of Australia’s arms contribution have not been disclosed.
This marked the second delivery from a C-17A Globemaster III, with the first load departing RAAF Base Richmond for Europe on 2 March 2022.
The Commonwealth government has committed to working with NATO and other international partners to co-ordinate assistance to Ukraine.
[Related: RAAF C-17A Globemaster delivers second arms load to Ukraine]
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