New round of sanctions announced targeting Russian oligarchs

New round of sanctions announced targeting Russian oligarchs

As part of the Government’s ongoing response to Ukraine, new sanctions targeting oligarchs with close personal ties to Vladimir Putin or the Russian government will come into force at midnight tonight, Foreign Minister Nanaia Mahuta has announced.
“The Government has approved sanctions on a further 36 individuals, all of whom are Russian oligarchs or their close family members with close ties to the Russian regime or the Russian President himself,” said Nanaia Mahuta.
This list includes some of Russia’s richest businesspeople, as well as chairs and chief executives of some of Russia’s biggest companies. They will not be able to travel to Aotearoa New Zealand, move assets here, or use our financial systems to hide from sanctions imposed by other countries.’
“New Zealand is appalled at reports over the weekend showing the targeted killing and abuse of civilians, as Russian troops withdraw from areas of Ukraine.
“Through our sanctions, we are working with the international community to put real pressure on those supporting Putin and his regime, and send a clear message that this illegal invasion cannot continue, and that the brutality and inhumane acts from Russian troops cannot be tolerated.
“This is the second round of sanctions since the passing of the Russia Sanctions Act just three weeks ago. The Government’s first sanctions under the Act targeted 19 entities, President Putin and members of his national security council, as well as adding 364 individuals to New Zealand’s travel ban list.
“Officials continue to work as quickly as possible to identify individuals and entities, while ensuring legal thresholds are met and due diligence is given. More measures will be enacted in the coming weeks,” said Nanaia Mahuta.
A full list of the individuals and entities impacted by the Russia Sanctions Act 2022 can be found on the MFAT website: www.mfat.govt.nz/Russia-Sanctions
ENDS

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