Australia imposes sanctions on 14 Russian businesses to 'undercut' Vladimir Putin's war funds

The Australian government said the new round of sanctions is taken in coordination with allies to ratchet up the pressure on Vladimir Putin to end the war in Ukraine.

Australian Foreign Affairs Minister Marise Payne at NATO headquarters in Brussels, Belgium.

Foreign Minister Marise Payne said the new raft of sanctions Australia is imposing on Russia focuses on businesses that have a strategic and economic importance. Source: AAP, EPA / Stephanie Lecocq

Australia has imposed fresh sanctions on 14 Russian state-owned businesess, in further action following the country's invasion of Ukraine.

Transport company Kamaz and shipping companies Sevmash and United Shipbuilding Corporation were among the businesses hit by the new sanctions.

The measures also extended to Ruselectronics, which produces about 80 per cent of all Russian electronic components, while Russian Railways were also hit by the measures.
Foreign Minister Marise Payne said the sanctions would impact on businesses that have a strategic and economic importance to Russia.

"Our targeting of Russia's state-owned enterprises in coordination with key partners undermines their capacity to boost the Russian economy," she said in a statement.

"By preventing dealings with these important sources of revenue for the Russian government, we are increasing the pressure on Russia and undercutting its ability to continue funding Putin's war."

Australia has also sanctioned more than 600 people, following Vladimir Putin's invasion of Ukraine.
It comes after Prime Minister Scott Morrison said there was "no doubt" Russia was committing war crimes in Ukraine.

However, the prime minister stopped short of calling the actions a genocide, despite US President Joe Biden using the term.

There have been reports that chemical weapons have been used in the Ukrainian port city of Mariupol.

Ukraine's ambassador to Australia said he strongly believed the weapons were being used, although he admitted it was difficult to confirm due to a lack of access to parts of Mariupol that were under siege.

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2 min read
Published 14 April 2022 3:00pm
Updated 14 April 2022 3:07pm
Source: AAP, SBS


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