Australia announces largest package of sanctions against russia

It covers finance, defence, transport and cryptocurrency organisations.

This was announced by Australian Prime Minister Anthony Albanese and Defence Minister Richard Marles.

The Australian government has announced a package of sanctions against russia, including 180 new restrictions on individuals and legal entities, as well as on shadow fleet vessels.

The sanctions apply to russia's financial and banking, defence, aviation, oil and gas, transport, and scientific and technical sectors. They are designed to reduce russia's revenues and limit its ability to wage an illegal war.

‘Australia has also targeted cryptocurrency organisations for the first time, which allow cross-border payments to facilitate the circumvention of sanctions that support russia's military operations,’ the government said.

The country has also lowered the price cap on russian oil from $47.60 to $44.10 per barrel.

At the same time, it is noted that Australia has allocated more than $1.7 billion in aid to Ukraine, including $1.5 billion for military support and $40 million for energy assistance to provide lighting, heating and critical infrastructure.

‘Australia once again calls on russia to immediately end the war and fulfil its international legal obligations, in particular regarding the protection of civilians and the treatment of prisoners of war,’ the government emphasised.

Source: Suspilne