April 21, 2022
Oligarchs to feel heat as Aotearoa sanctions banks
Foreign Affairs Minister Nanaia Mahuta says New Zealand doesn’t want to be a safe haven for Russian wealth.
The Government has sanctioned 17 banks and one investment fund which she says account for 80 percent of financial transactions in Russia.
There are also sanctions on Vladimir Putin’s cabinet and high net worth individuals close to the Russian president.
“We’re doing that alongside trade sanctions so a very strong set of sanctions to turn the heat up on Russia but also to send a signal we’re not funding the war that is unprovoked, unjust, and impacts on Ukraine’s sovereignty,” Ms Mahuta says.