The Australian Government has announced its decision to escalate economic measures against Russia following its invasion of Ukraine, which was supported by Belarus. In an effort to increase the economic cost to Russia, Australia will impose an additional tariff of 35% on all imports originating from Russia and Belarus.
Effective from 25 April 2022, this action will supplement the existing general duty rates. Australia’s move follows a joint statement with other World Trade Organization (WTO) members, condemning Russia’s actions and pledging to take necessary steps to safeguard their essential security interests.
Australia reaffirms its solidarity with Ukraine in the face of Russian aggression. The Morrison Government has committed $91 million in military assistance to Ukraine and is providing $65 million in humanitarian aid. Additionally, Australia is delivering 70,000 tonnes of thermal coal to enhance Ukraine’s energy security and extending support to Ukrainian community groups within the country.
Australia’s efforts to increase pressure on Russia include targeted sanctions on individuals and entities, a prohibition on energy, oil, and gas products from Russia, and a ban on exports of alumina and aluminium ores, including bauxite, to Russia. Over 500 individuals and entities have been placed on the sanctions list, marking Australia’s most extensive imposition of sanctions on a single country.
Starting from 25 April, there will be a prohibition on imports of oil and other energy products. Australia also encourages its international partners to revoke Most-Favoured-Nation (MFN) trading arrangements with Russia and Belarus, aligning with their national procedures.
The Australian Government remains committed to holding Russia accountable for its actions and stands firmly in support of Ukraine’s sovereignty and territorial integrity. Australia continues to urge Russia to cease its unprovoked and illegal invasion of Ukraine.
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