Australia Imposes New Sanctions on Russia

Local Editor

Australia has imposed new sanctions on Russia on Monday that will ban arms exports to the country, prohibit Russian state-owned banks further access to the Australian capital market and ban oil and gas exports to Russia.

Australia’s prime minister Tony Abbott announced the new sanctions on Monday, saying Australia will not invest in the Russia-annexed Crimean peninsula and will "further target financial sanctions and travel bans against specific individuals."

Monday’s sanctions are a response to the European Union’s warning on further sanctions against Russia over Ukraine.
Abbott confirmed that Australia’s sanctions were coordinated with the United States, Canada and Europe.

Moreover, in July, the European Union and the United States imposed economic sanctions, targeting Russia’s defense, energy and banking sectors. Russia responded in August by introducing a one-year ban on food imports from the European Union, the United States, Canada, Australia and Norway.

Source: News Agencies, Edited by website team