New sanctions package against Russia

Foreign Affairs

Foreign Minister Winston Peters today announced a new package of sanctions as part of the ongoing international sanction response to Russia’s illegal invasion of Ukraine in February 2022.

The new sanctions are:

  • Implementation of the G7-plus price cap on Russian-origin oil;
  • making explicit the prohibition on exporting restricted items to Russia and Belarus through third countries; and
  • designating 61 individuals and companies to counter evasion efforts. 

“Increasingly sophisticated methods are being used in the effort to evade sanctions. By targeting evasion methods, the Government is contributing to the robustness of the sanctions system,” Mr Peters says.

“New Zealand has sanctioned a further 61 Russian individuals and entities, including those involved in sanctions evasion procurement networks.”

These designations include entities procuring technology for Russia’s defence industry and senior leaders of certain Russian banks. Those involved in the procurement of weapons from North Korea have also been sanctioned.

“These new designations are a contribution by New Zealand to collective international efforts to impair Russia’s ability to fund its war of aggression against Ukraine, and ensure New Zealand is not used as a channel for sanctions evasion.”

“The sanctions underscore New Zealand’s steadfast condemnation of Russia’s unprovoked and unjustifiable war against Ukraine, as we reach the two-year point since the February 2022 full-scale invasion,” Mr Peters says.

Since the passing of the Russia Sanctions Act in March 2022, New Zealand has imposed sanctions on more than 1,600 individuals and entities, along with a range of trade measures.

Notes

More information about sanctions, travel bans, and export controls against Russia and Belarus, as well as diplomatic, military, and economic support to Ukraine, can be found on the Ministry of Foreign Affairs and Trade website here.

The Government has implemented the following actions in response to the war in Ukraine:

  • Banned exports to Russian and Belarusian military and security forces.  
  • Passed the historic Russia Sanctions Act under which we have passed sanctions (Including those announced today) targeting: 
    • Vladimir Putin and key members of his inner circle. 
    • Senior leadership of the Security Council of the Russian Federation.
    • All 620 members of the Russian parliament (State Duma and Federation Council).
    • All Russian Ministers and Governors.
    • More than 230 entities including state-owned enterprises, entities that are part of Russia’s military industrial complex, Donbas militia groups, and Belarusian defence entities. 
    • More than 100 oligarchs and immediate family with close ties and influence with the Russian Government.
    • 19 financial institutions, including Russia’s Central Bank.
    • 37 individuals and entities involved in disinformation and cyber-attacks on Ukraine.
    • 15 members of the Central Election Commission.
    • 35 Belarusian leaders.
    • Almost 100 Russian-directed leaders in the Donetsk and Luhansk Peoples’ Republics and occupied Ukrainian regions.
    • The Commissioner for Children’s Rights in the Office of the President of the Russian Federation.
    • 11 Iranian individuals and seven Iranian entities for supplying drones to Russia.
  • Banned all Russian and Belarusian Government and military aircraft and vessels from NZ.
  • Suspended bilateral Foreign Ministry Consultations with Russia.

Trade measures

  • Implemented a 35% tariff on all Russian imports to NZ (this has been extended to 2025 to align with other sanctions). 
  • Banned the import of Russian gold into NZ.
  • Significantly expanded the export ban on Russia and Belarus to cover more industrial products of strategic importance (by adding more than 700 new prohibited tariff lines).
  • Banned the import of Russian oil, gas, and coal.
  • Banned the export of oil exploration and oil production goods to Russia. 
  • Banned the import from and export to Russia of certain luxury goods. 

Other assistance to Ukraine

  • Since the invasion on 24 February 2022, New Zealand has pledged over $100 million in financial assistance and in-kind support to Ukraine in the face of Russia’s invasion. That includes:
  • support for military training and equipment valued at $75 million, including up to 97 NZDF personnel deployed to Europe. 
  • $21.93 million in humanitarian assistance to conflict-affected Ukrainian communities in Ukraine and in neighbouring countries. 
  • $5.2 million in support for international legal processes and human rights monitoring.