Australia imposes sanctions against Russia

The Australian government is imposing economic sanctions on Russia following its decision to recognize the independence of the Donetsk and Lugansk People's Republics (DPR and LPR), Prime Minister of Australia Scott Morrison announced on Wednesday.

"We will be also moving, as the United States and the UK has, to sanction the Russian State Development Bank, VEB, the military bank Promsvyazbank, Rossiya, IS Bank, the General Bank and the Black Sea Bank. The Treasurer has spoken today to all of the CEOs of the major banks and to put them on alert to be aware of any suspicious transactions or things of that nature. And, of course, AUSTRAC will be doing their job in response to what could possibly occur. In response to Russia's recognition of Lugansk and Donetsk regions of eastern Ukraine as independent states, that is why these actions are being undertaken to extend into those areas," he said.

According to the Prime Minister, "Our intention today and the decisions taken by the National Security Committee are to ensure that we are in lockstep with the United States and the United Kingdom in the sanctions that they are imposing upon Russia and these other areas. Initially, we will oppose imposing travel bans and targeted financial sanctions on eight members of the Security Council of the Russian Federation. Tomorrow morning, I will meet with the Governor-General here in Sydney, and I've spoken to him earlier today, as a Special Executive Council meeting to enable my Government to impose those additional sanctions against Russia."