Australia announces largest sanctions package against Russia since 2022

Australia has imposed additional sanctions on 180 individuals and entities, as well as vessels linked to Russia's shadow fleet.

According to Report, citing the Australian government's website, the measures were outlined in a joint statement by Prime Minister Anthony Albanese, Defence Minister Richard Marles, and Foreign Minister Penny Wong.

The statement notes that this is the largest sanctions package adopted by Australia since February 2022, when the Russia–Ukraine war began.

The statement says that the new sanctions target Russia"s financial and banking sectors, defense industry, aviation sector, oil and gas industry, transport, as well as science and technology.

They are designed "to cut Russia's revenues and further restrict its ability to continue its illegal and brutal invasion."

It also emphasizes that sanctions against shadow fleet vessels are intended to deprive Russia of revenues supporting its war economy. For the first time, Australia has also targeted cryptocurrency entities that facilitate cross-border payments aimed at circumventing sanctions.

Since the start of the war, Australia has imposed more than 1,800 sanctions against Russia. In addition, Australia has lowered the price cap on Russian oil from $47.60 per barrel to $44.10.