Russian state companies sanctioned

Minister of Foreign Affairs Nanaia Mahuta has announced additional sanctions on Russian state-owned enterprises and defence entities in response to the ongoing brutality in Ukraine.

“Russia’s largest company and dozens of military and industrial corporations sanctioned today play a crucial role fuelling the illegal and unprovoked war in Ukraine,” said Nanaia Mahuta.

“Aotearoa New Zealand continues to stand strong against Putin’s invasion, by imposing sanctions and taking measures to support Ukraine to influence Russia away from war.

“We do not want sanctioned individuals and entities to find this country is a safe haven for them, or for New Zealand businesses to inadvertently fund the war. It is important for us to play our part by putting the brakes on the machinery of war.

“These companies, controlled by Putin’s government, are of strategic importance to Russia because they provide raw materials, infrastructure, communications, transportation, weapons and funding.

“One of the state entities is Gazprom, Russia’s largest company and a key source of Russia’s export revenue through its gas sales. We have also sanctioned entities that are building weapons and military technology for Putin’s war and are part of Russia’s vast military industrial complex.

“In these latest sanctions, 44 entities have been designated, including six Belarusian defence entities. New Zealanders will be prohibited from dealing with these companies.

“Aotearoa New Zealand’s sanctions contribute to international efforts to limit Russia’s ability to finance and equip the war in Ukraine. Sanctions under the Act target individuals and companies that are economically or strategically important to Russia.

“The Russia Sanctions Act passed unanimously by the New Zealand Parliament in March allows for a wide range of measures including travel bans, asset freezes, prohibitions on financial dealings and bans on ships or aircraft entering New Zealand,” said Nanaia Mahuta.

Further information on sanctions taken under the Russia Sanctions Act 2022 can be found on the MFAT website: www.mfat.govt.nz/Russia-Sanctions