New Zealand expands sanctions against Russia over its invasion of Ukraine

This was reported by the country’s Ministry of Foreign Affairs, according to Ukrinform.

The ministry said that, as of February 20, changes had been made to the sanctions regime introducing restrictions against 23 individuals, 13 companies, and 100 vessels.

It was also noted that, effective today, the maximum price cap on crude oil of Russian origin has been reduced from $47.60 to $44.10 per barrel.

According to the updated register of organizations and individuals subject to New Zealand’s economic restrictions, the list now includes executives of the Russian cryptocurrency exchange Garantex, several Russian citizens who are officers of Russian intelligence services, as well as three Iranian nationals who are board members of Qods Aviation, a leading Iranian producer of unmanned aerial vehicles.

It is worth noting that since March 2022, the government of New Zealand has imposed restrictions more than 35 times on Russian companies and individuals, as well as on Russia’s allies. To streamline the process, the country’s parliament adopted special legislation. In total, New Zealand has introduced various bans, including trade and financial restrictions, against more than 1,800 individuals, among them Russian President Vladimir Putin, members of the Russian government and Security Council, and deputies of the State Duma and the Federation Council of the aggressor state.

As previously reported by Ukrinform, the EU is nearing the final stage of work on its 20th package of sanctions against Russia, with a final agreement expected after two meetings of ambassadors in the Coreper II format, although objections from Hungary may delay the process.