New and continued Russia Sanctions

His statement can be read on the Beehive website.

Of particular relevance to exporters and their agents is the ban on indirect exports of restricted goods to Russia and Belarus. Exports transiting or transhipping other countries en route to Russia or Belarus have already been banned. This new restriction will prohibit the export of specified goods to any country, should the goods after this initial export from New Zealand then be exported to, or exported for use in Russia or Belarus. Detailed guidance on this is being prepared by the Ministry for Foreign Affairs and Trade, and will be available on the MFAT Russia Sanctions page.

A further 61 Russian individuals and entities have been added to the Russian Sanctions Register including entities procuring technology for Russia’s defence industry and those involved in the procurement of weapons from North Korea.

This Register should be regularly checked by importers, exporters and their agents.

The G7-Plus Oil Price Cap is also being put into effect.  This will prohibit specified services involved in the maritime transportation of Russian-origin oil, unless the oil transaction involved is within identified price points. Specified services covered are brokering, financing, financial assistance, and insurance services provided by New Zealand businesses.

More information on the Russia Sanctions, including the Register and helpful guidance documents, can be found here.

Any queries can be made to RussiaSanctions@mfat.govt.nz.