New Zealand announces new trade sanctions against Russia

As part of the government’s ongoing response to the conflict in Ukraine, Foreign Minister Nanaia Mahuta and Minister of Trade and Export Growth Damien O’Connor announced significant new sanctions against Russia.

The government has announced that it will apply 35% tariffs to all imports from Russia and extend existing export bans to industrial products closely related to strategic Russian industries. This is New Zealand’s most significant economic response to the Russian invasion to date.

“The images and reports of atrocities committed against civilians in Bucha and other parts of Ukraine are heinous and reprehensible, and New Zealand continues to respond to Putin’s senseless acts of aggression,” he said. said Foreign Minister Nanaia Mahuta.

“Under the Russia Sanctions Act, New Zealand will apply tariffs to all Russian imports, and ban the export of industrial goods such as ICT equipment and engines, sending a clear message that New Zealand Zealand will not fund or support the Russian war machine,” Trade and Export Growth Minister Damien O’Connor said.

“These tariff increases work in conjunction with the international community as we seek to pressure the Putin regime. These trade sanctions, in addition to other measures already taken, work in tandem with Ukraine and international partners to exercise the as much pressure as possible on the Putin regime to cease hostilities,” said Damien O’Connor.

“Officials remain in regular contact with the companies to ensure the impacts of international and domestic sanctions are understood,” Damien O’Connor said.

“We continue to call on Russia to be held accountable for war crimes and atrocities committed against innocent civilians. Along with 41 other countries, New Zealand has announced its support for prosecutions at the International Criminal Court and has funded the investigation,” Nanaia said. Mahuta said.

“Our response to the war in Ukraine is the most significant response to an international crisis that we have undertaken as a nation in recent history – including the deployment of targeted legislation. We continue to work at pace and we We plan to deploy further measures under the Russia Sanctions Act to support Ukraine and arrest those associated with Russia’s forced aggression,” Nanaia Mahuta said.

Regulations will now be prepared to give effect to these policy decisions, to enable them to come into force from 25 April.

Further information on sanctions taken under the Russia Sanctions Act 2022 can be found on the MFAT website: www.mfat.govt.nz/Russia-Sanctions

(With contributions from the New Zealand government press release)

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