Australia has imposed financial sanctions on 14 Russian state-owned enterprises

Australia has imposed Financial sanctions. "Our targeting of Russia’s state-owned enterprises in coordination with key partners undermines their capacity to boost the Russian economy."

Australia has imposed financial sanctions on 14 Russian state-owned enterprises on Thursday, including defence-related entities such as truckmaker Kamaz, and shipping companies SEVMASH and United Shipbuilding Corp.

This is the second round of sanctions against the Russians. Last week the Australian Government has decided to impose targeted financial sanctions and travel bans on a further 67 individuals for their role in Russia’s invasion of Ukraine.

Australia has imposed Financial sanctions

Sanctions will also extend to electronic company Ruselectronics, responsible for the production of around 80% of all Russian electronics components, and Russian Railways over Moscow’s invasion of Ukraine, foreign minister Marise Payne said in a statement.

Russian state-owned enterprises

Our targeting of Russia’s state-owned enterprises in coordination with key partners undermines their capacity to boost the Russian economy. 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,” Payne said.

Australia has now sanctioned about 600 individuals and entities, including most of Russia’s banking sector and all organisations responsible for the country’s sovereign debt.

It has also supplied defence equipment and humanitarian supplies to Ukraine, while banning exports of alumina and aluminium ores, including bauxite, to Russia.

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