Canberra, 28 February 2022 (TDI): Prime Minister of Australia, Scott Morrison announced that Australia has imposed new drastic sanctions on Russian President, Vladimir Putin and members of Russia’s Security Council.

Prime Minister Morrison further announced that they are holding Russian President Vladimir Putin responsible for his illegal and unprovoked expedition on Ukraine.

Australia has targeted the financial sanctions and travel bans on the Russian President and the remaining permanent members of Russia’s Security Council.

They’re Foreign Minister Sergei Lavrov, Defence Minister Sergey Shoigu, Prime Minister Mikhail Mishustin, and Internal Affairs Minister Vladimir Kolokoltsev.

He went on to say that Australia supports the most recent anti-Russian initiatives, such as the exclusion of some Russian banks from the Society for Worldwide Interbank Financial Telecommunication (SWIFT).

Australia will continue to work with friends and like-minded nations to impose more economic sanctions on Russia i.e. building on the slew of travel bans and freezing of assets are being imposed in recent days against Russia’s most powerful political and military players.

He reiterated that Australia will engage with NATO to give Kyiv “lethal” military weaponry and other tentative or permanent support. Further, he announced that in a first step, Australia will give USD 3 million to ‘NATO’s Ukraine Trust Fund’ to fund non-lethal military equipment and medical supplies.

Details of Australia’s supply of deadly military weapons are being finalized with the allies and will be disclosed shortly. According to his statement, the Australian Government firmly supports the imposing of economic sanctions against major Russian banks, institutions, and people by the European Commission, France, Germany, Italy, the United Kingdom, Canada, and the United States.

These sanctions, taken together, will inflict significant costs on the Russian economy by isolating the country’s important banks from the international financial system and disrupting Russian trade and investment flows.

Besides, Russia’s foreign reserves will also be paralyzed which will disable the access of Russian officials and elites from vital financial systems.