New Zealand has imposed new sanctions against more than a dozen Russian financial entities, including the country’s central bank, Foreign Minister Nanaia Mahuta announced in a statement Tuesday.
The sanctions target 18 financial organizations that allegedly finance Russia’s invasion of Ukraine, and which make up about 80% of Russia’s total banking assets, Mahuta said in a statement released by the New Zealand government.
“These sanctions are designed to impose an economic and political cost,” Mahuta said in the statement. “With this latest round of sanctions, New Zealand is joining countries around the world who have imposed heavy penalties on President Putin and the system financing his illegal invasion.”
The 18 newly-sanctioned organizations are: Alfa-Bank, Bank Rossiya, Bank Otkritie, Black Sea Bank for Development and Reconstruction, Central Bank of the Russian Federation, Credit Bank of Moscow, Gazprombank, GenBank, Industrial Savings Bank, Novikombank, Russia Agricultural Bank, Russian National Commercial Bank, Russian Direct Investment Fund, Sberbank, Sovcombank, SMP Bank, Vnesheconombank, VTB.
Over the past month, New Zealand has issued a raft of sanctions against Russian entities and individuals, including against Russian President Vladimir Putin, members of his security council, politicians, oligarchs and military leaders.