On Tuesday, New Zealand imposed new sanctions on Russia’s largest banks and financial institutions, following its invasion of Ukraine.

“We are deeply concerned at the reports of brutality from Russian forces,” said Foreign Minister Nanaia Mahuta in a statement. “New Zealand continues to condemn Putin’s war and supports the International Criminal Court’s investigations into the atrocities committed against the citizens of Ukraine.”

She went on to add, sanctions were imposed on the central bank and on Russian sovereign wealth funds among three core government financial bodies, as well as on eight of Russia’s biggest banks along seven others entities which have ties to its oligarchs, the defence sector and the annexation of Crimea.

Russia has termed the invasion of Ukraine as a “special military operation” to neutralize threats from Neo-Nazis to de-militarise it.

Categories: Creativity, Entrepreneurship, HR & Organization, Strategy

Tags: banks, defence sector, financial institutions, Foreign Minister, invasion, Nanaia Mahuta, Neo Nazis, New Zealand, oligarchs, Russia, Russian, sanctions, sovereign wealth funds, special military operation, Ukraine