The Australian government has been consulting on potential additional sanctions measures to target Russian individuals and entities if considered by the government as being implicated in aggression towards Ukraine. At this point it is unclear what regulatory path the government would take in imposing any new measures. The government could impose measures using the new US Magnitsky-style thematic sanctions that took effect in December 2021. Alternatively, the government may decide to take the path already well-trodden and add to the existing list of designated parties for Russia, Crimea and Sevastopol. Australia initially imposed autonomous sanctions targeting Russia and Russian interests in Crimea and Sevastopol in 2014. The initial measures were largely modelled on the sanctions imposed by the EU. The sanctions included both measures against designated persons and entities as well as sectoral measures restricting supply and import of select goods, services and commercial activities. Under the new thematic sanctions laws, the government may impose designated party sanctions based on the conduct of the designated party (e.g., if it is determined that the designated party contributed to proliferation of weapons of mass destruction or were engaged in serious violations or serious abuses of human rights). In contrast, the prior regime (under which the current Russian sanctions were made) were country-specific. Regardless of the path taken by the government to add to the list of the designated parties, the end-result is the same. In effect, it is an offence to do business with a designated person or entity other than in accordance with a permit. That is, it is an offence to directly or indirectly make an asset available to or for the benefit of a designated person or entity or to deal with a designated person’s or entity’s assets (other than in accordance with a permit). Designated parties can also be subject to travel bans.
