New Zealand will lower the price cap on Russian crude oil, joining Canada, the EU, and the UK, Foreign Minister, Winston Peters has announced today.
Mr Peters said that lowering the price cap from USD $60 per barrel to USD $47.60 was a calculated step to curtail crucial oil revenues fuelling Putin’s illegal war of aggression against Ukraine.
New Zealand has also sanctioned Russian actors involved in cyber-attacks against Ukraine. This includes 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,” said Minister Peters.
“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 came into effect in March 2022, New Zealand has designated more than 1,900 individuals, entities, and shipping vessels, alongside a series of trade measures.
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.
