Russia vs Ukraine: Australia extends sanctions against Russian banks and oligarchs

Russia vs Ukraine: Australia extends sanctions against Russian banks and oligarchs

The government of Australia announced this Friday a new battery of sanctions against 11 banks, government entities and two Russian oligarchs with commercial interests in the oceanic country, for Russia’s invasion of Ukraine.

With these measures, which include the Russian National Investment Fund and the Ministry of Finance, the Australian Executive ensures that “Most (Russian) banking assets are now covered by our sanctions along with all entities that handle Russia’s sovereign debt.”

Canberra also added to the list of sanctioned Russian oligarchs, in which there are already 41 peopleincluded Roman Abramovicto entrepreneurs Oleg Deripaska and Viktor Vekselbergwhose businesses are linked to Australian companies, according to the official statement.

“The Australian government is deeply committed to imposing high costs on Russia. This includes listing people of economic and strategic importance to Russia who have supported and benefited from the regime of (President Vladimir) Putin.”

Deripaska is chairman of the Russian aluminum company Rusal, which has a 20 percent stake in the Queensland Alumina Limited (QAL) refinery in Gladstone, eastern Australia, reports ABC.

For his part, Vekselberg has interests in a company that works with Origin Energy, one of the most important electricity companies in Australia, to fracture the Beetaloo basin, in the Northern Territory, according to the public media.

Australia, which has sent lethal and humanitarian aid to Ukraine, has already It has imposed sanctions against dozens of financial entities and has banned some 450 people from traveling, including the president Putin and other Russian top brass and oligarchsas well as members of the Executive and the Armed Forces of Belarus.

Melissa Galbraith
Melissa Galbraith is the World News reporter for Globe Live Media. She covers all the major events happening around the World. From Europe to Americas, from Asia to Antarctica, Melissa covers it all. Never miss another Major World Event by bookmarking her author page right here.