Economic sanctions against Russia and two pro-Russian separatist regions in eastern Ukraine were announced by Australia and Japan on Wednesday.
Following Russia’s recognition of the Luhansk and Donetsk regions as independent states on Monday, Australia imposed sanctions on Russian officials and financial institutions, as well as a trade embargo.
In a joint statement, Prime Minister Scott Morrison and Foreign Minister Marise Payne said, “In a first phase, we will impose travel bans and targeted financial sanctions on eight members of Russia’s Security Council.”
“By providing policy advice and justification to President (Vladimir) Putin’s unilateral declaration recognizing the so-called Donetsk People’s Republic and the Luhansk People’s Republic, the Council bears responsibility for the current phase of the invasion,” they added.
Individuals and entities from Australia were barred from doing business with Rossiya Bank, Promsvyazbank, IS Bank, Genbank, and the Black Sea Bank for Development and Reconstruction as a result of the sanctions. In addition, Australians are barred from investing in Russia’s state-owned development bank, VEB.
Donetsk and Luhansk have also been sanctioned by Canberra, which has banned trade with them in the sectors of transportation, energy, telecommunications, oil, gas, and minerals.
The top Australian officials stated, “We are working with our partners to identify additional individuals who will be subject to these sanctions.”
In the midst of escalating tensions between Ukraine and Russia, the government applauded US, UK, and Canadian actions against Moscow, as well as Germany’s decision to halt the Nord Stream 2 gas pipeline project.
Authorities also granted six-month visa extensions to Ukrainians living in Australia whose visas were set to expire on June 30.
Morrison had earlier criticized Russia’s latest actions as unjustified, unwarranted, unprovoked, unacceptable, and akin to “thugs and bullies” at a news conference in Sydney.
“Russia is on the verge of completing a full-scale invasion of Ukraine, which is expected to happen within the next 24 hours.” And there have already been reports of shelling and other incidents, which could indicate that it has already started,” Morrison claimed.
“They (Russia) should be labeled as bullies and thugs.” And, sadly and tragically, the full force of a thug’s and bully’s violence is about to be felt by the people of Ukraine.”
Morrison did not rule out putting Putin on the list of sanctioned individuals or expelling the Russian ambassador from Australia.
“At this time, that step has not been taken. Other countries haven’t made those decisions yet, and I’ve discussed this with other leaders. But we’ll see how this develops.”
Fumio Kishida, Japan’s prime minister, also announced a list of economic sanctions against Russia, as well as Donetsk and Luhansk.
According to Kyodo News Agency, Tokyo has suspended visas for officials from these two regions, frozen their assets, and banned trade with Donetsk and Luhansk.
It called Russia’s recognition of the two regions as independent countries a violation of Ukraine’s sovereignty and territorial integrity, as well as international law.
“We strongly urge Russia to return to diplomatic efforts to break the impasse,” Kishida told reporters, according to the news agency.
He went on to say that Japan would take more steps in conjunction with the G7 countries.
On Thursday, the leaders of the G-7 countries, which include the United States, the United Kingdom, Canada, France, Germany, Italy, Japan, and the European Union, are expected to hold a virtual meeting to discuss the current situation in Ukraine.
The sanctions will not affect Japan’s energy supply, according to Kishida, because the country has sufficient oil and liquefied natural gas reserves (LNG).
Following its invasion of Ukraine’s Crimean Peninsula in 2014, Moscow began supporting separatist forces in eastern Ukraine in their fight against the central government, a policy it has continued for the past seven years. According to the United Nations, more than 13,000 people have died as a result of the conflict.
Putin’s latest moves come after Russia amassed 100,000 troops and heavy equipment in and around its neighbor, prompting accusations from the US and Western countries that it was preparing for an invasion.
On Monday, Russian President Vladimir Putin announced Moscow’s recognition of two eastern Ukrainian breakaway regions as “independent” states, followed by an order dispatching Russian forces to the region to “maintain peace.” The two regions are not under the control of the Ukrainian government.
Putin has also been given permission by Russian lawmakers to use military force outside of Russia, allowing troops to be deployed.
Russia has denied that it is planning an invasion and instead claims that NATO’s expansion near its borders has harmed its security.
The United Kingdom, the United States, and Canada have all announced sanctions against Russia, and Germany has said it will halt construction of the Nord Stream 2 gas pipeline, which was intended to double the flow of Russian gas to Germany directly.
