Russia Sanctions Reminder: Sanctioned entities / individuals / “Luxury goods” import and export ban
10.01am 17 February 2023 | News
An update on Russian Sanctions Reminder for importers and exporters.
Individuals and entities continue to be added to the Russia Sanctions Register. This valuable compliance resource should be regularly checked by exporters and importers and their agents, to ensure they are not dealing with any sanctioned individual or entity, anywhere in the world, or you can subscribe to receive updates from MFAT. Read the Minister of Foreign Affairs’ statement.
Over 1400 entities / individuals are subject to “asset freeze” sanctions. These have the effect of banning any import or export activity involving these entities / individuals, anywhere in the world. Importers, exporters and their agents should familiarise themselves with the due diligence guidance on the Russia Sanctions webpage of the MFAT website, and regularly check the Russia Sanctions Register listing the affected entities / individuals.
Importers, exporters and their agents are also reminded that from 4 November a wide range of goods of any origin have been prohibited from export to the Russian Federation, or from import to New Zealand if their country of origin was the Russian Federation. “Luxury goods” have been defined in the Russia Sanctions Regulations by HS Tariff classification, so all goods in the classification are covered, regardless of value or condition. The import ban applies to goods with a Country of Origin of Russia. The date these goods left Russia is irrelevant, as is country of export.
Further, there are a wide range of HS Tariff classifications subject to the export prohibition in place for goods going to Belarus or the Russian Federation. There is no de minimis for any of these prohibitions. The 35 percent tariff on imports still applies, and remains payable even if goods seized.
Importers, exporters and their agents are strongly recommended to check the Russia Sanctions page on the MFAT website for further information, including FAQs, and to check the Russia Sanctions Register on this page (click on the Trade Measures tab) to view the wide range of HS Tariff classifications affected.
Any questions can be sent to RussiaSanctions@mfat.govt.nz