Additional sanctions against Russia announced

Prime Minister Anthony Albanese and Foreign Minister Penny Wong announced additional financial sanctions and an export ban, targeting sectors of economic and strategic significance to Russia on 19 May 2023.

These additional targeted measures aim to slow Russia's war machine.

Australia's action is part of a push by international partners, who are meeting at the G7 Leaders' Summit in Hiroshima this week.

Australia has already sanctioned more than 1,000 individuals and entities who are supporting Russia's illegal and immoral invasion of Ukraine.

The new financial sanctions will target 21 entities and three individuals, including:

• Subsidiaries of Russian state-owned atomic energy corporation Rosatom that are involved in nuclear research, infrastructure development and weapons manufacturing.
• The Russian entity created to take over Ukraine's Zaporizhzhia Nuclear Power Plant, the largest nuclear power plant in Europe.
• Russia's largest petroleum company Rosneft.
• Russia's largest gold company Polyus PJSC.
• One of Russia's largest steel companies Severstal PJSC.
• Defence entities supporting Russia's war.
• Five Russian banks with operations across the Russian Federation.

The Australian Government will also implement a ban on the export of all machinery and related parts to Russia and areas temporarily under Russian control.

This will prevent Australian goods from aiding Russia's aggression in Ukraine. The Department of Foreign Affairs and Trade will soon commence public consultation on the export ban, with implementation of the ban to follow.

Businesses or individuals that wish to participate in consultation on the machinery export ban should subscribe to alerts with the Australian Sanctions Office.

This will be presented in further detail at the upcoming customs broker Continuing Professional Development (CPD) mandatory licensing events

WEDNESDAY 14 JUNE 2023: Brisbane Airport Conference Centre, Dryandra Road, QLD

PROGRAM AVAILABLE HERE

SATURDAY 24 JUNE 2023: Hyatt Regency Perth, 99 Adelaide Terrace, Perth, WA

PROGRAM AVAILABLE HERE

Minimum of 21 CPD points achieved via attendance at the face-to-face events with complimentary online training provided to meet remaining CPD and CBC requirements.