New Zealand will expand its sanctions on Russia through a first of its kind, targeted, autonomous sanctions regime, Jacinda Ardern, the country’s Prime Minister announced Monday.
The government will urgently pass a bill this week which will allow for extensive sanctions on those responsible for, or associated with, Russia’s invasion of Ukraine, Ardern said.
“A Bill of this nature has never been brought before our Parliament but with Russia vetoing UN sanctions we must act ourselves to support Ukraine and our partners in opposition to this invasion.”
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Sanctions will be able to be imposed on people, services, companies and assets related to those in Russia who are responsible for the invasion, or those that are economic or strategic relevance to Russia, including oligarchs.
Assets within New Zealand will be able to be frozen and those sanctioned will also be prevented from moving assets to New Zealand or using its financial system as a “back door” to get around sanctions imposed by other countries, Ardern said.
Russian super yachts, ships and aircraft could also be banned from entering New Zealand waters or airspace.
“The Bill also allows for sanctions to be imposed against other states complicit with Russia’s illegal actions, such as Belarus,” Ardern said.
