Russia Sanctions Flashcards
Background, dates and factors
-Trade sanctions by Australia were first imposed in 2014 following the annexation of the Crimea, and have been extended in each of 2015, 2022 and 2023, with the later two extensions being due to the Russian invasion of Ukraine, and Australia’s condemning of Russia’s role in the Ukraine war
Details of the sanctions
-Removal of WTO Most-Favoured-Nation (MFN) tariff treatment
-Additional tariff of 35 percent to all imports
-Prohibition of the export of various goods (luxury goods, aluminium ores)
-Prohibition of the import of oil, natural gas, coal and other energy products from Russia
Differing Interpretations - Other nations
-Likeminded states include the UK, US and EU, who all also applied sanctions on Russia
Differing Interpretations - Senator Marise Payne, 2022 - Minsiter for foreign affairs 2022
“This action follows Australia’s joint statement, with other like-Minded members of the WTO, strongly condemning Russia’s actions and committing to take all actions we consider necessary, as WTO members, to protect our essential security interests”
Relative power, FPI
-Economic power
-Trade FPI
-Hard power
Relative National interest
-These sanctions worked to increase the international standing of Australia, as it outwardly displayed their support of Ukraine in the conflict, thus lifting their standing with other “like-minded” countries
-Decrease in regional relationships with Russia