Imposes financial sanctions and travel bans on selected Russian entities

On 24 February 2022, the Australian Government designated several individuals and entities to be subject to targeted financial sanctions and travel bans, with an effective date of 25 February. The financial institutions included: IS Bank, GenBank, Promsvyazbank, and the Black Sea Bank for Development and Reconstruction. Four additional entities subject to sanctions involved in the development and sale of military technology and weapons namely Tactical Missiles Corporation, Kronshtadt, Rostec, and Rosoboronexport.

• Type:

  • Treatment and operation (Investment related trade measures)
  • Treatment and operation (Capital transfer and FOREX, Operational conditions)

• Industry:

  • Services (Financial and insurance activities)

• Sources:

  • Government Portal, Russia sanctions regime IMPORT PROHIBITION – OIL AND OTHER ENERGY PRODUCTS, https://www.dfat.gov.au/international-relations/security/sanctions/sanctions-regimes/russia-sanctions-regime , 12 Feb 2022
  • clydeco, Update: More Australian Sanctions against Russia, https://www.clydeco.com/en/insights/2022/03/more-australian-sanctions-against-russia , 28 Mar 2022