Australia imposes more sanctions on Russian state-owned enterprises

Australia has imposed new financial sanctions on Russian state-owned enterprises, Foreign Affairs Minister, Marise Payne, announced on Thursday.

The sanctions target 14 Russian enterprises of strategic and economic importance to Russia, including defence-related entities such as truck maker, Kamaz, and shipping companies; SEVMASH and United Shipbuilding, Payne said in a statement.

The sanctions extend to Ruselectronics, which is responsible for the production of about 80 per cent of all Russian electronic components, as well as one of the world’s largest transportation companies, Russian Railways.

“By preventing dealings with these important sources of revenue for the Russian government, we are increasing the pressure on Russia and undercutting its ability to continue funding Putin’s war.

“The Australian government reiterates our unwavering support for Ukraine’s sovereignty and territorial integrity, and for the people of Ukraine.

“We again call upon Russia to withdraw its military forces immediately from Ukraine,” Payne said.

The move follows other targeted sanctions on Putin, members of his government, Russian oligarchs, senior Russian military leaders and individuals that Australia has termed propagandists and disinformation operatives.

It also follows a ban on the export of luxury goods, alumina and bauxite to Russia.