Source:TVNZ

Details have been released of what Prime Minister Jacinda Ardern called “a first of its kind, targeted, autonomous sanctions regime”, that will enable New Zealand to sanction Russia as the invasion of Ukraine continues.

It will give New Zealand the power to place “further sanctions on those responsible for or associated with Russia’s invasion of Ukraine, including people, services, companies, and assets”.

Under the proposed regime, that is set to go through Parliament in urgency this week, super yachts and ships can be stopped from entering, Russian assets in New Zealand can be frozen and sanctions can also apply to trade.

The Government also released a list of 100 people associated with the Russian invasion of Ukraine that come under a travel ban. President Vladimir Putin is at the top of the list.

“The sanctions will enable the Government to freeze assets located in New Zealand,” Ardern said. “Those sanctioned will also be prevented from moving assets to New Zealand or using our financial system as a back door to get around sanctions increasingly imposed by other countries.”

Sanctions could also be placed on trade “and financial institutions as well as stopping the likes of Russian super yachts, ships and aircraft from entering New Zealand waters or airspace”.

“The bill also allows for sanctions to be imposed against other states complicit with Russia’s illegal actions, such as Belarus,” Ardern said.

New Zealand usually goes through the UN system to place sanctions, an issue that has been brought up again recently after National’s Gerry Brownlee attempted to introduce an autonomous sanction regime last year. The bill was voted down.

Ardern said the bill did not “allow us to target Russia oligarchs, it would not allow us to target airspace or those that may move into our maritime areas”.

Foreign Minister Nanaia Mahuta said that “with Russia using its veto as a permanent member of the United Nations Security Council to prevent any action, even in the face of overwhelming opposition to Russia’s war, New Zealand has decided that a targeted sanctions bill is required to show our condemnation in the strongest possible terms”.

Ardern said: “A bill of this nature has never been brought before our Parliament, but with Russia vetoing UN sanctions we must act ourselves to support Ukraine and our partners in opposition to this invasion”.

The Government is also receiving advice on a full autonomous sanction regime.