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Australian Imposed Sanctions

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The first designated party listings under Australia’s Magnitsky-style thematic sanctions regime took effect on 30 March 2022. This sanctions regime came into operation in December 2021. The new designated party listings target Russian individuals who the Minister believes were responsible for the corruption exposed by Sergei Magnitsky and individuals involved in his subsequent abuse and death. The list published includes 39 Russian individuals who are now the subject of designated party sanctions and travel bans.…

Over the past week, Australia has made several additions to its autonomous sanctions measures targeting Russia. Of particular note: Australia has expanded the list of individuals and entities subject to the designated party sanctions (and travel bans). The additions to the list include:Individuals including Russian oligarchs, political and economic elites, and current or former members of the Russian government. The list also includes individuals identified as family members of oligarchs which the government indicated it…

Consistent with the Australian Foreign Minister’s announcement on 22 February 2022, the Prime Minister on 23 February 2022 announced that Australia is working on imposing additional sanctions measures on Russia that are aligned with those that the US and UK have announced. Key aspects highlighted by the Prime Minister for the new measures are: expansion of the individuals and entities subject to designated party sanctions (and travel bans);sanctions on the Russian State Development Bank, VEB,…

On 2 December 2021, the Australian Parliament passed the Autonomous Sanctions Amendment (Magnitsky-style and Other Thematic Sanctions) Act 2021 (Cth) (“Act”). The new laws are intended to modernise Australia‚Äôs autonomous sanctions regime by creating a framework to facilitate the establishment of a thematic sanctions regime to enable Australia to respond flexibly and swiftly to a range of situations of international concern. A key difference to the current sanctions regime is that the new laws will…