March 9, 2022 6:52 PM

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New Zealand passes bill to impose economic sanctions on Russia

<span style="color: #222222;">New Zealand lawmakers have unanimously passed a bill to impose economic sanctions on Russia.<br />''<br />''Unlike many countries that had already imposed sanctions, New Zealand's laws didn't previously allow it to apply meaningful measures unless they were part of a broader United Nations effort. Because Russia has U.N. Security Council veto power, that had left New Zealand hamstrung.<br />''<br />''The new law, which was imposed in a single day, targets those in Russia associated with the military operations, including oligarchs. It will allow New Zealand to freeze assets and stop super yachts or planes from arriving.<br />''<br />'' Lawmakers said it would stop New Zealand becoming a safe haven for Russian oligarchs looking to avoid sanctions elsewhere.</span><br />

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