Australia imposes new sanctions on Russian banks and oligarchs

Isaac Yee

Australia on Friday announced new sanctions against 11 Russian banks and government entities, according to a statement from Foreign Minister Marise Payne.


Payne said Australia will continue to work with its partners to coordinate sanctions and to “constrain funds for President (Vladimir) Putin’s unlawful war.”

“Today’s listing includes the Russian National Wealth Fund and the Russian Ministry of Finance. With our recent inclusion of the Central Bank of Russia, Australia has now targeted all Russian Government entities responsible for issuing and managing Russia’s sovereign debt,” she said.

“The majority of Russia’s banking assets are now covered by our sanctions along with all of the entities that handle Russia’s sovereign debt.”

Oligarchs targeted: Payne also announced new sanctions against Russian oligarchs Viktor Vekselberg, and Oleg Deripaska, the head of aluminum company Rusal, which owns 20% of Australia’s Queensland Alumina company.

Australia is “deeply committed to imposing high costs on Russia,” Payne said, reiterating Canberra’s “unwavering support for Ukraine’s sovereignty and territorial integrity, and for the people of Ukraine.”

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