Australia slaps fresh sanctions on Russian banks, govt entities amid Moscow-Kyiv war

Stepping up its pressure on Russia, Australia following the footsteps of other Western countries has announced a fresh set of sanctions on restricting 11 Russian banks and several government entities, including those responsible for managing Russian sovereign bonds, said the Australian Foreign Ministry on Friday. This comes at a time when the Russia-Ukraine war is in its fourth week, further inviting heavy condemnation and sanctions from Western countries as Russia escalates its "military operations" in Ukraine. 

Meanwhile, as stated by the Foreign Ministry, the sanctions which have been introduced over the Russian military operations in Ukraine include 11 additional Russian banks and government entities with the majority of the country's banking assets along with all entities that handle Russia’s sovereign debt.

"Today's listing includes the Russian National Wealth Fund and the Russian Ministry of Finance. With our recent inclusion of the Central Bank of Russia, Australia has now targeted all Russian government entities responsible for issuing and managing Russia's sovereign debt", it added. 

Australia imposes sanctions on 33 Russian oligarchs

Earlier on Monday, Australia had announced fresh sanctions against 33 Russian oligarchs and business-class people joining in the league of other Western countries in imposing restrictive measures against Russian individuals. As announced by the Minister of Foreign Affairs Marise Payne, he said that the sanctions reinforce Australia's serious commitment to sanction Russians of economic and strategic significance, especially Russian President Vladimir Putin.

Announcing the same, the foreign minister also asserted that Australia commits to sanction those who have gained immense benefits and are of "economic and geopolitical importance to Russia", especially of their ties with President Putin. Since 2014, many of these oligarchs have personally benefited from the Kremlin's "illegal and unjustifiable actions" in Ukraine, it added.

Meanwhile, ever since Russia launched its aggressive military operations in Ukraine, Australia has imposed more than 450 sanctions on Russian individuals and entities, organisations, banks, Putin, his security council, and as well as the Russian Armed Forces. 

Image: AP