“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,” New Zealand Prime Minister Jacinda Ardern said in a statement.
Under the bill, which New Zealand’s government said “will pass under urgency this week,” the country would bar Russian oligarchs’ luxury yachts and planes from its waters and airspace.
Ardern said sanctions can be imposed on “people, services, companies, and assets related to those in Russia who are responsible for or associated with the invasion, or that are of economic or strategic relevance to Russia, including oligarchs.”
The sanctions also would allow the government of New Zealand to freeze assets in the country and 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,” Ardern said.
The prime minister added, “Sanctions could also apply to 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 implemented against other countries supporting Russia’s invasion of Ukraine, like Belarus, she explained.
New Zealand Foreign Minister Nanaia Mahuta noted that New Zealand has historically supported sanctions through the United Nations system.
“However, 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,” Mahuta said.
Russian President Vladimir Putin is at the top of the list, followed by Russian Prime Minister Mikhail Vladimirovich Mishustin and Russian Foreign Minister Sergey Lavrov.
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