New Zealand expands sanctions on Russia’s oil industry and shadow fleet

Foreign Minister Winston Peters has announced a new round of sanctions targeting Russia's oil trade while meeting with the Nordic 5 Foreign Ministers in Stockholm.

"New Zealand is sanctioning 65 shadow fleet vessels involved the shipment of Russian oil, a key source of revenue funding Russia's war of aggression against Ukraine," Mr Peters says.

New Zealand has also sanctioned actors from Belarus, Iran, and North Korea, involved in refining and transporting Russian oil, and in facilitating oil-related payments.

"These actors are part of a broader network enabling the trade in Russian oil, undermining global efforts to curtail funding for Russia's illegal war," Mr Peters says.

"By targeting the oil supply chain, New Zealand is acting decisively in support of international efforts to bring Russia to the negotiating table."

Since the Russia Sanctions Act came into force in March 2022, New Zealand has imposed sanctions on more than 1,900 individuals, entities, and vessels, alongside a range of trade measures. This is New Zealand's 33rd round of Russia sanctions.

More information about New Zealand sanctions, travel bans, and export controls against Russia, as well as diplomatic, military and economic support for Ukraine, can be found on the Ministry of Foreign Affairs and Trade website here.

Note: The Government has implemented the following actions in response to Russia's war against Ukraine:

Passed the historic Russia Sanctions Act under which New Zealand has implemented sanctions (including those announced today) targeting:

• Vladimir Putin and key members of his inner circle.
• Senior leadership of the Security Council of the Russian Federation.
• All 620 members of the Russian parliament (State Duma and Federation Council).
• All Russian Ministers and Governors.
• More than 400 entities including state-owned enterprises, entities that are part of Russia's military industrial complex, Donbas militia groups, and Belarusian defence entities.
• More than 110 oligarchs and immediate family with close ties and influence with the Russian Government.
• 20 financial institutions, including Russia's Central Bank.
• 7 Belarusian financial institutions.
• 62 individuals and entities involved in disinformation and cyber-attacks on Ukraine.
• 15 members of the Central Election Commission.
• Almost 100 Russian-directed leaders in occupied Ukrainian regions.
• The Commissioner for Children's Rights in the Office of the President of the Russian Federation.
• Iranian individuals and entities involved in the supply of Iranian military materiel to Russia for use in Ukraine.
• Individuals and entities involved in the supply of DPRK military materiel to Russia for use in Ukraine.

Banned all Russian and Belarusian Government and military aircraft and vessels from NZ.

Banned exports to Russian and Belarusian military and security forces. 

Suspended bilateral foreign ministry consultations with Russia.

Endorsed the UK-initiated Call to Action on the "shadow fleet" engaged in sanctions circumvention by carrying Russian oil and gas. The Call to Action promotes compliance with international standards for maritime safety, environmental protection, and insurance.

Trade measures

Implemented a 35% tariff on all Russian imports to NZ.

Banned the import of Russian gold into NZ.

Significantly expanded the export ban on Russia and Belarus to cover more industrial products of strategic importance (by adding more than 700 new prohibited tariff lines).

Banned the import of Russian oil, gas, and coal.

Banned the export of oil exploration and oil production goods to Russia.

Banned the import from and export to Russia of certain luxury goods.

Implemented the oil price cap on Russian-origin oil, which has since been lowered to further restrict Russia's revenue from energy exports.

Other assistance to Ukraine

Since Russia's full-scale invasion on 24 February 2022, New Zealand has pledged over $168 million in financial assistance and in-kind support to Ukraine. This includes:

• support for military training, equipment, and materiel valued at $110.3 million, including up to 100 NZDF personnel deployed to Europe.
• $39.9 million in humanitarian assistance to conflict-affected Ukrainian communities in Ukraine and in neighbouring countries.
• $6 million in support for recovery and reconstruction.
• $5.2 million in support for international legal processes and human rights monitoring