Foreign Minister Winston Peters has sanctioned 65 so-called “shadow fleet” vessels involved in shipping Russian oil.

The move was announced in a statement released on Thursday morning coinciding with Peters’ meeting with the Nordic 5 Foreign Ministers in Stockholm.

He said oil was a key source of revenue helping Russia fund its war in Ukraine, and the shadow fleet was part of a broader network undermining global efforts to curtail its trade.

It comes a day after Reuters news agency reported a New Zealand company offered insurance to tankers helping the trade of billions of dollars of Iranian and Russian oil, skirting Western sanctions.

This is New Zealand’s 33rd round of Russia sanctions.

Peters said the shadow fleet was part of a broader network enabling the trade in Russian oil and undermining global efforts to curtail it.

“By targeting the oil supply chain, New Zealand is acting decisively in support of international efforts to bring Russia to the negotiating table.”

Since the Russia Sanctions Act came into force in March 2022, New Zealand has imposed sanctions on more than 1900 individuals, entities and vessels, as well as several trade measures.

The Government has also sanctioned individuals and entities from Belarus, Iran and North Korea involved in refining and transporting Russian oil, and in facilitating oil-related payments.

A raft of sanctions against individuals from those countries was announced in June.

At the time, Peters also sanctioned 27 oil tankers involved in the trade of Russian oil and gas.

Other moves against Russia and its allies

Since the passing of the Russia Sanctions Act, New Zealand has taken other measures targeting:

• Vladimir Putin and key members of his inner circle.
• Senior leadership of the Security Council of the Russian Federation.
• All 620 members of the Russian parliament (State Duma and Federation Council).
• More than 400 entities including state-owned enterprises, entities that are part of Russia’s military industrial complex, Donbas militia groups, and Belarusian defence entities.
• More than 110 oligarchs and immediate family with close ties and influence with the Russian government.

It has also banned all Russian and Belarusian government and military aircraft and vessels from NZ, suspended bilateral foreign ministry consultations with Russia and implemented a 35% tariff on all Russian imports.

Since Russia’s invasion of Ukraine, this country has also pledged more than $168 million in financial aid and in-kind support to Ukraine.

– RNZ