• 24/04/2024 00:20

New package of sanctions against the Russian Federation: New Zealand has introduced a maximum price for Russian oil

New Zealand Foreign Minister Winston Peters today, February 29, announced a new package of sanctions as part of the current international sanctions in response to Russia's full-scale invasion of Ukraine in February 2022. This was reported by the press service of the country's government.

New Zealand Foreign Minister Winston Peters today, 29 February, announced a new package of sanctions as part of the current international sanctions in response to Russia's full-scale invasion of Ukraine in February 2022.

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In particular, the new sanctions provide for:

    the introduction of a maximum price established G7+ countries on oil of Russian origin, a ban on the export of sanctioned goods to Russia and Belarus through third countries, a restriction on 61 Russian individuals and legal entities, including those who took part in procurement networks for the purpose of evading sanctions.

The sanctions affected organizations purchasing technology for the Russian defense industry and the senior management of some Russian banks. Also subject to sanctions were individuals involved in the purchase of weapons from North Korea.

Since the passage of the Russia Sanctions Act in March 2022, New Zealand has imposed sanctions against more than 1,600 individuals and legal entities, and a number of trade measures.

Trade sanctions against the Russian Federation

    A 35% tariff was introduced on all Russian imports to New Zealand (this was extended until 2025 to align with other sanctions). Ban on the import of Russian gold into New Zealand. The ban on exports to Russia and Belarus has been significantly expanded to cover more strategic industrial goods (by adding more than 700 new prohibited tariff lines). The import of Russian oil, gas and coal is prohibited. The export of exploration and oil production goods to Russia is prohibited. The import and export of certain luxury goods to Russia is prohibited.

minfin.com.ua

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