February 23, 2022
1 min read

Australia announces sanctions on Russia

On Sunday, Russian President Vladimir Putin signed decrees recognizing the independence of the DPR and LPR. …reports Asian Lite News

Australia is taking immediate action to sanction Russian individuals, organizations, and banks as part of the international effort to impose a sharp cost on Russia for its “unprovoked aggression” against Ukraine, the Scott Morrison government announced on Wednesday.

This comes after Russia recognized Ukraine’s breakaway regions – Donetsk and Luhansk – as independent entities. This move has led to severe backlash from the international community.

On Sunday, Russian President Vladimir Putin signed decrees recognizing the independence of the DPR and LPR. Under new treaties, Moscow will ensure the security of the two Russian-speaking republics.

“Under a first phase, we will impose travel bans and targeted financial sanctions on eight members of Russia’s Security Council. The Council bears responsibility for the current phase of the invasion by providing policy advice and justification to President Putin’s unilateral declaration recognising the so-called Donetsk People’s Republic and the Luhansk People’s Republic,” the Morrison government said in a statement.

Targeted financial sanctions will mean Australian individuals and entities cannot do business with the banks including Rossiya Bank, Promsvyazbank, IS Bank, Genbank and the Black Sea Bank for Development and Reconstruction.

“This is in addition to restrictions on Australians investing in the state development bank VEB,” the statement added.

The Australian Prime Minister said the country will amend the Autonomous Sanctions Regulations 2011 to extend existing sanctions that apply to Crimea and Sevastopol to Donetsk and Luhansk. “This will impose strong economic sanctions in the regions of Donetsk and Luhansk prohibiting trade in the transport, energy, telecommunications, and oil, gas and minerals sectors.”

Morrison said his country will also amend the Regulations to significantly broaden the scope of people and entities that Australia can list for sanctions to include those of “strategic and economic significance to Russia”. (ANI)

ALSO READ: Abdullah bin Zayed receives Minister of Foreign affairs of Australia

Previous Story

John Abraham joins Dinesh Vijan for ‘Tehran’

Next Story

242 Indian students evacuated safely from Ukraine

Latest from -Top News

UAE, India join on child services

The United Arab Emirates and India have opened discussions to enhance cooperation in integrated child development services, focusing on early childhood education, nutrition, and child participation initiatives. The talks took place on

Pakistan Faces Backlash Over NGO, Media Attacks

Human rights groups criticised the Pakistani government for a “deeply irresponsible” smear campaign against media and NGOs….reports Asian Lite News Several human rights organisations and advocacy groups have criticised the Pakistani government

Afghanistan Offline: 72 Hours of Chaos

Afghanistan restores internet after three-day blackout; humanitarian aid, trade, and banking resume slowly, while UN warns repeated disruptions threaten recovery and livelihoods for millions of citizens. Internet and telecom services were partially

Over 1,000 lives lost in Pak floods

Pakistan’s floods kill over 1,000, hit agriculture and supply chains; economy shows resilience amid devastation, while Karachi experiences minor earthquake, raising fears in already-stricken areas. Pakistan continues to grapple with one of
Go toTop

Don't Miss

Washington denies any role in Kremlin drone attack

Responding to Russian claims, US National Security spokesman John Kirby

Panel Urges US to Prepare for Possible Simultaneous Wars

The Strategic Posture Commission released its long-awaited report on US