Further actions in response to Russia's illegal invasion of Ukraine
The Australian Government has directed Export Finance Australia to reject any requests for loans or other finance that support trade with, or investment in, Russia or Belarus.
Joint media release with:
Senator the Hon Penny Wong, Minister for Foreign Affairs
Senator the Hon Don Farrell, Minister for Trade and Tourism, Special Minister of State
20 October 2022
Australia has imposed additional costs on Russia for its unprovoked, illegal, and immoral war on Ukraine.
The Australian Government is extending the application of a punitive tariff on goods imported from Russia and Belarus for a further 12 months until October 2023.
The additional 35 per cent tariff on Russian imports, together with the prohibition on energy imports, has had a significant impact on trade.
The Australian Government has also directed Export Finance Australia to reject any requests for loans or other finance that support trade with, or investment in, Russia or Belarus. This legal direction will ensure Russia and Belarus do not benefit from any financing provided by Export Finance Australia.
These measures are intended to undermine Russia's ability to fund its invasion of Ukraine.
We call on Russia to immediately withdraw its forces from Ukrainian territory.
Attributable to the Minister for Foreign Affairs, Senator the Hon Penny Wong:
“Russia's war on Ukraine is an attack on the UN charter. It impacts all nations and all peoples. Australia is working together with the international community to diminish Russia's ability to fund its illegal, immoral war.”
Attributable to the Minister for Trade and Tourism, Senator the Hon Don Farrell:
“The Australian Government condemns in the strongest possible terms Russia's unprovoked, unjust and illegal invasion of Ukraine. We are maintaining the economic costs on Russia and Belarus by extending the application of an additional tariff on imports from these countries for a further 12 months. We reiterate our strongest support for Ukraine's sovereignty and territorial integrity, and for the people of Ukraine.”
Media enquiries
Minister's office: 02 6277 7420
DFAT Media Liaison: (02) 6261 1555
