New Zealand imposes new sanctions on Russian banks

© Reuters. Plastic letters arranged to read “Sanctions” are placed in front the flag colors of New Zealand and Russia in this illustration taken February 28, 2022. REUTERS/Dado Ruvic/Illustration

WELLINGTON (Reuters) – New Zealand unveiled new sanctions on Tuesday targeting Russia’s largest banks and financial institutions, in its response to the invasion of Ukraine.

“We are deeply concerned at the reports of brutality from Russian forces,” Foreign Minister Nanaia Mahuta said in a statement after the measures were announced.

“New Zealand continues to condemn Putin’s war and supports the International Criminal Court’s investigations into the atrocities committed against the citizens of Ukraine.”

She said the central bank and the sovereign wealth fund were among three core government financial bodies affected, as well as eight of Russia’s largest banks and seven others with ties to oligarchs, the defence sector and the annexation of Crimea.

Moscow calls its action in Ukraine a “special military operation”.