Australian Prime Minister Scott Morrison on Monday announced new sanctions against Russian President Vladimir Putin and members of the Russian Security Council.

“We hold Russian President Vladimir Putin responsible for his blatant unjustified war against Ukraine. From midnight last night, targeted Australian financial sanctions and travel bans came into effect against the Russian President and the remaining permanent members from the Russian Security Council: Foreign Minister Sergey Lavrov, Defense Minister Sergey Shoigu, Prime Minister Mikhail Mishustin and Internal Affairs Minister Vladimir Kolokoltsev,” Morrison said in a statement.



He added that Australia supported the most recent anti-Russian measures, including the disconnection of some Russian banks from the Society for Worldwide Interbank Financial Telecommunications (SWIFT).

“Australia will continue to work with allies and like-minded countries to impose further economic sanctions on Russia, building on the series of travel bans and asset freezes implemented in recent years. days against Russia’s most influential political and military players,” Morrison said.

He reiterated that Australia will work with NATO to provide “lethal” military equipment and other forms of assistance to Kyiv.

“As an immediate measure, Australia will contribute $3 million to the NATO Ukraine Trust Fund to support non-lethal military equipment and medical supplies. Details of Australia’s contribution in lethal military equipment are being developed with our partners and will be announced shortly,” Morrison said.

According to its statement, the Australian government strongly supports announcements by the European Commission, France, Germany, Italy, the United Kingdom, Canada and the United States of new restrictive economic measures against leading Russian banks, institutions and individuals.

“Together, these measures will impose significant costs on the Russian economy by disconnecting its major banks from the international financial system and disrupting Russian trade and investment flows. They will also cripple Russia’s foreign exchange reserves and prevent officials and Russian elites to access key financial systems,” the Australian Prime Minister added.

(Only the title and image of this report may have been edited by Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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