New Zealand is reducing the price cap on Russian crude oil, joining Canada, the EU, and the UK in this move, Foreign Minister Winston Peters said.
“Lowering the price cap from USD $60 per barrel to USD $47.60 is a calculated step to curtail crucial oil revenues fuelling Putin’s illegal war of aggression against Ukraine,” Peters noted.
The country has also imposed sanctions on Russian entities involved in cyberattacks against Ukraine, including Russia’s military intelligence Unit 29155 of the General Staff Main Intelligence Directorate.
“Russian state actors have been illegally using malware against Ukrainian government networks.”
“This is New Zealand’s 32nd round of sanctions. It targets 19 individuals and entities and 19 vessels.”
“We’re sanctioning actors involved in chemical weapons and disinformation, as well as shadow fleet vessels, alternative payment providers, and third-country facilitators in North Korea and Iran.”
Since the Russia Sanctions Act took effect in March 2022, New Zealand has designated over 1,900 individuals, entities, and shipping vessels, along with implementing various trade measures.
New Zealand’s sanctions, travel restrictions, export controls targeting Russia, alongside its diplomatic, military, and economic aid to Ukraine, are detailed on the Ministry of Foreign Affairs and Trade’s website.