NZ targets individuals and firms backing Russia in Ukraine war

On August 8, New Zealand announced a new set of sanctions aimed at 33 people and companies that have provided support to Russia amid its war in Ukraine. Foreign Minister Winston Peters said the package expands the reach of the Russia Sanctions Act, which was first applied in March 2022.

The act has enabled New Zealand to sanction more than 2,000 entities across 36 rounds, and the latest measures add primary and secondary restrictions on Russian officials, oligarchs, their relatives, and financial institutions that facilitate the conflict. The sanctions also go after foreign actors involved in oil shipments and the “shadow fleet” that helps Russia evade embargoes.

These actions coincide with a major U.S. Senate vote on a Russia sanctions bill that could impose up to 100% tariffs on the world’s largest buyers of Russian energy. Named after the late Senator Lindsey Graham, the bill now moves to the House, where senior Democrats have raised concerns about the tariff provisions.