New Zealand's crackdown on exports of goods to Russian military forces may be worth millions of dollars. 

New Infometrics estimates, provided exclusively to Newstalk ZB, show the ban could capture about $38 million. 

Specific details on the prohibition orders are unclear, but estimates include machinery, optical equipment and chemical products. 

The Government's condemning Russia's invasion of Ukraine, saying it's an unprovoked and unnecessary attack. 

"An unthinkable number of innocent lives could be lost because of Russia’s decision," Prime Minister Jacinda Ardern said. 

"This will be the closest thing to war that my generation, and many generations, will have seen." 

Principal economist Brad Olsen told Newstalk ZB the fallout will trickle down to hit New Zealand, and comes at a time when supply chains are already compromised.' 

The invasion, and global response, will further hinder economic activity around the world", he said. 

The export ban covers any goods for use by Russian military and security forces, including armed force, paramilitary force, police force, or militia. 

It comprises weapons, dual use technology and goods that have a civilian use, but are intended for military, or may have military applications. 

New Zealand can impose export controls in relation to any goods intended for military use on a case-by-case basis. 

While exports from New Zealand under this category are extremely limited, a blanket ban is a significant step, as it removes the ability for exporters to apply for a permit, and sends a clear signal of support to Ukraine. 

Russia is New Zealand's 28th largest export trading partner. 

New Zealand's measures in response to Russia’s actions include: 

- Introduce targeted travel bans against Russian Government officials and other individuals associated with the Russian invasion of Ukraine, in line with a number of our partners 

- Prohibit the export of goods to Russian military and security forces; and- Suspend bilateral foreign ministry engagement until further notice