Russia has approved a list of unfriendly countries and has imposed sanctions against that country as Russia invades Ukraine. The list includes New Zealand, the US, the UK and many other nations, as per a Russian media outlet.
Russian citizens, Russian firms and the state will be able to pay foreign currency debts to creditors on the list of unfriendly countries in rubles, as per an official order released on 5 March.
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New Zealand has already enforced travel bans, exports prohibition to the Russian military, and deferred foreign ministry consultations.
The news comes as PM Jacinda Arden announced that a new law would be passed that will put further sanctions on those related to or are accountable for Russia’s invasion of Ukraine. NZ may also apply sanctions to financial institutions, trade, Russian aircraft, superyachts and ships entering NZ. NZ may also freeze Russian assets.
The proposed bill is due to be introduced on Wednesday.