April 14 (UPI) — Australia announced additional sanctions against more than a dozen Russian state-owned companies on Thursday, as it continues to levy punitive measures against the Kremlin over its war in Ukraine.
The sanctions announced by the Ministry of Foreign Affairs targets 14 state-owned companies, including defense-related entities Kamaz, which says its Russia’s largest manufacturer of trucks and diesel engines, as well as shipping companies SEVMASH and United Shipbuilding Corporation.
Ruselectronics, which says it produces about 50% of all electric components in the country though Australia puts that figure at about 80%, was also hit by sanctions as well Russian Railways, one of the world’s largest transport companies.
“Our targeting of Russia’s state-owned enterprises in coordination with key partners undermines their capacity to boost the Russian economy,” Foreign Affairs Minister Marise Payne said in a statement.
“By preventing dealings with these important sources of revenue for the Russian government, we are increasing the pressure on Russia and undercutting its ability to continue funding [Russian President Vladimir] Putin’s war.”
Australia has imposed sanctions against some 600 individuals and entities since Russia invaded Ukraine on Feb. 24.
Since the attack began 49 days ago, nearly 2,000 Ukrainians civilians have been killed and more than 4.6 million have been forced to flee the country with millions more internally displaced.
Democratic nations, including Australia, were quick to condemn the invasion and have imposed sanctions and import restrictions and tariffs against Russia while also supply Ukraine with arms.