The Government has announced a fresh round of sanctions on Russia, targeting 18 financial entities, including the country's central bank and sovereign wealth fund.
"These major institutions make up approximately 80 percent of Russia's total banking assets," Foreign Affairs Minister Nanaia Mahuta said in a statement on Tuesday.
"These sanctions are designed to impose an economic and political cost, specifically targeting organisations that finance the continued invasion of Ukraine.
"With this latest round of sanctions, New Zealand is joining countries around the world who have imposed heavy penalties on President [Vladimir] Putin and the system financing his illegal invasion."
The sanctions target eight of Russia's largest banks, seven other banks of significance because of links to oligarchs, Russia's defence sector and its 2014 annexation of Crimea. The sanctions also crack down on three core government financial institutions, including a key investment fund.
A full list of the sanctioned entities is listed at the bottom of this article.
"We are deeply concerned at the reports of brutality from Russian forces," Mahuta said. "New Zealand continues to condemn Putin's war and supports the International Criminal Court's investigations into the atrocities committed against the citizens of Ukraine."
It's the latest round of sanctions announced over the past month, which have targeted Putin and members of his Security Council, politicians, military leaders, oligarchs, defence companies and militias, as well as a 35 percent export tax or tariff applied to Russian imports to New Zealand.
NZ's actions against Russia
- Banned exports to Russian military and security forces
- Suspended diplomatic consultations with Russia
- Passed the Russia Sanctions Act giving the Government power to sanction Putin and his senior leadership, 18 entities including weapons makers and militias, 36 oligarchs and close family with close ties and influence with the Putin administration, and 19 financial institutions in total
- Banned all Russian Government aircraft and vessels from New Zealand waters
- Announced a 35 percent tariff or export tax on all Russian imports to New Zealand, which will come into force on April 25
- Imposed travel bans on more than 480 individuals
- $5m of non-lethal military assistance to support Ukraine via the NATO Trust Fund and communications equipment
- Surplus NZ Defence Force equipment sent to Ukraine, including 1066 body armour plates, 473 helmets, 571 camouflage vests/harnesses
- Deployment of 17 Defence Force personnel to the United Kingdom, Belgium and Germany, to support our partners in intelligence and engagement work, and logistical coordination
- Deployment of NZ Defence Force C-130 Hercules transport aircraft and 50 support personnel to Europe
- $7.5 million to contribute to weapons and ammunition procurement by the United Kingdom
- $4.1 million to support commercial satellite access for the Ukrainian Defence Intelligence
- $6 million in humanitarian assistance
- Establishment of a special Ukraine visa for family members of Ukrainian New Zealanders
- $815,000 to support international legal efforts to hold Russia accountable including $315,000 to support the International Criminal Court investigation into war crimes and crimes against humanity in Ukraine
- $1m to the Office of the High Commissioner for Human Rights
- Alfa-Bank
- Bank Rossiya
- Bank Otkritie
- Black Sea Bank for Development and Reconstruction
- Central Bank of the Russian Federation
- Credit Bank of Moscow
- Gazprombank
- GenBank
- Industrial Savings Bank
- Novikombank
- Russia Agricultural Bank
- Russian National Commercial Bank
- Russian Direct Investment Fund
- Sberbank, Sovcombank
- SMP Bank
- Vnesheconombank
- VTB
