Wellington, August 8: New Zealand announced a new round of sanctions on Saturday against those supporting Russia in its conflict with Ukraine.
The sanctions package, detailed by Foreign Minister Winston Peters, targets 33 individuals and companies.
According to reports from the Xinhua news agency, New Zealand implemented the Russia Sanctions Act in March 2022. Since then, it has conducted 36 rounds of sanctions, affecting over 2,000 individuals, companies, and vessels.
In a separate development, the U.S. Senate passed a significant sanctions bill against Russia. While India is not named in the legislation, it could potentially subject India and other major buyers of Russian energy to tariffs of up to 100%.
The Lindsey Graham Sanctioning Russia and Iran Act of 2026 passed the Senate with an 86-11 vote and will now move to the House of Representatives, where senior Democrats have expressed concerns regarding the tariff provisions.
Under this law, the government will identify countries using trade data rather than naming them directly in the legislation. This includes the five largest importers of Russian crude oil, the five largest importers of Russian natural gas, and five major countries that help evade Russian oil sanctions.
These decisions will be based on the most recent 12 months and will be reviewed every 180 days.
The bill will impose primary and secondary sanctions on Russian officials, wealthy individuals, their family members, banks, and financial institutions. It also targets foreign individuals supporting Moscow’s fight in Ukraine and the so-called shadow fleet used for oil transport and sanctions evasion.
Named after Republican Senator Lindsey Graham, who negotiated an agreement with the White House before his sudden death on July 11, this legislation aims to extend the 1996 Iran Sanctions Act until 2031, penalizing companies investing in Iran’s energy sector.
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