Are sanctions against Russia working?

  • Opinion

    16 June 2022

Are sanctions against Russia working? Desktop Image Are sanctions against Russia working? Mobile Image

It is almost 100 days since the New Zealand Parliament unanimously passed the ground-breaking Russia Sanctions Act 2022 in response to Vladimir Putin’s invasion of Ukraine, but are sanctions against Russia working?

Many are also asking:

  • how long will they last?
  • how are New Zealand businesses responding?
  • how easy is it to exit Russia?
  • how costly is New Zealand’s sanctions regime? and
  • are secondary sanctions coming?

Partner and sanctions specialist, Sarah Salmond, sat down with Radio New Zealand’s Sharon Brettkelly to discuss these questions.

Listen to the podcast.

Sarah and Sharon’s earlier podcast on Russian sanctions is available here.

How can we help?

We have extensive experience of advising on sanctions compliance and enforcement related matters, including in relation to Western governments’ recent sanctions targeting Russia.  We routinely assist clients to: produce obligations registers; conduct compliance assessments; undertake customer and transaction due diligence and screening processes; structure low risk transactions; and develop or refine sanctions compliance programmes.

Members of our team have represented clients in sanctions investigations undertaken by the New Zealand Customs Service, the UN, and the UK and US governments.  We have also represented clients in sanctions-related mediations and judicial proceedings in New Zealand and the UK.

We work closely with partner firms in other jurisdictions, including the Asia-Pacific-wide network of MinterEllison offices, when foreign legal advice is required.

This article was co-authored by Danielle Cooper, a law clerk in our International Trade team.