On 1 September, Australia announced its intention to adopt new restrictive measures against Russia in response to the ongoing crisis in Eastern Ukraine. Australia’s Prime Minister Tony Abbott was “deeply concerned by escalating events” and announced measures to “build on Australia’s existing financial sanctions and travel bans”.
The new measures, planned in coordination with the US, Canada and the EU, will include restrictions on the access of Russian state-owned banks to Australian capital markets and restrictions on trade and investment in Eastern Ukraine. In addition, Australia’s list of individuals and entities subject to asset-freeze measures and travel restrictions was expanded to include a further 63 Russian and Ukrainian individuals and 21 entities to mirror EU sanctions. This takes the total number of designated persons to 113 individuals and 32 entities.