ANNOUNCEMENT 03 Mar 2022

In March 2022, the Australian Government implemented further sanctions on the Central Bank of the Russian Federation and other financial institutions. 

NUMBER OF INTERVENTIONS

2

  • 2 harmful
  • 0 neutral
  • 0 liberalising

SOURCE

Federal Register Legislation. "F2022L00235, Autonomous Sanctions (Designated Persons and Entities and Declared Persons—Russia and Ukraine) Amendment (No. 3) Instrument 2022". 02/03/2022. Available at: https://www.legislation.gov.au/Details/F2022L00235

Inception date: 03 Mar 2022 | Removal date: open ended

Controls on commercial transactions and investment instruments

On 2 March 2022, the Australian Ministry of Foreign Affairs and Trade adopted legislative instrument F2022L00235 amending the "Autonomous Sanctions (Designated Persons and Entities and Declared Persons – Russia and Ukraine) List 2014". The measure adds six Russian financial institutions on to sanctions lists and follows Russia's invasion of Ukraine. It enters into force on 3 March 2022.

In particular, the newly added entities are RVC Management Company, EXIAR, Otkritie Bank, Cetelem Bank, Russian Direct Investment Fund and the Management Company of the Russian Direct Investment Fund. These commercial entities provide from ordinary credits, to venture capital and trade finance.

The measure also foresees financial sanctions on Russia's central bank (see related intervention).

To view additional sanctions on Russia, please see the related state acts.

AFFECTED SECTORS

 
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AFFECTED PRODUCTS

 
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Inception date: 03 Mar 2022 | Removal date: open ended

Controls on commercial transactions and investment instruments

On 2 March 2022, the Australian Ministry of Foreign Affairs and Trade adopted legislative instrument F2022L00235 amending the "Autonomous Sanctions (Designated Persons and Entities and Declared Persons – Russia and Ukraine) List 2014". The measure includes the Central Bank of the Russian Federations into the sanctions lists, following Russia's invasion of Ukraine. It enters into force on 3 March 2022.

The measure also foresees financial sanctions on Russian financial institutions (see related intervention).

To view additional sanctions on Russia, please see the related state acts.

 
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