Australia slaps new sanctions on Russia on war anniversary, targets 'shadow fleet'

2026-02-24 - 07:22

Australia announced its "single largest sanctions package" since February 2022 on Tuesday, imposing fresh measures targeting 180 individuals, entities, and "shadow fleet vessels" linked to Russia on the fourth anniversary of the ongoing war. The new sanctions were unveiled in a joint statement by Prime Minister Anthony Albanese, Defense Minister Richard Marles, and Foreign Minister Penny Wong. Expanded Sanctions Scope The measures target Russia's finance and banking, defense, aeronautics, oil and gas, transportation, and science and technology sectors. For the first time, Australia has sanctioned cryptocurrency entities it says enable cross-border transactions, helping Moscow bypass existing restrictions and maintain its military campaign. With the latest round, Australia has now imposed more than 1,800 sanctions in response to Russia's invasion. Oil Price Cap Reduced Canberra also reduced the Russian oil price cap from $47.60 per barrel to $44.10. "We will continue to take action to place further pressure on Russia's oil revenue, and we expect businesses to prevent their supply chains from inadvertently funding Russia's illegal and immoral invasion of Ukraine," the statement said. Assistance and Demands Since the war began, Australia's total assistance to Ukraine has surpassed 1.7 billion Australian dollars ($1.2 billion), including more than 1.5 billion Australian dollars for military support. Australian officials urged Moscow to end the war without delay and meet international legal obligations, including safeguarding civilians and ensuring proper treatment of prisoners of war.