Australia

Australia

Imposes financial sanctions and travel bans on selected Russian entities

24 Feb 2022

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.