On Thursday, Australia imposed targeted financial sanctions on 14 Russian state-owned enterprises, including defence-related firms like truckmaker Kamaz and shipping companies SEVMASH and United Shipbuilding Corp. Over Moscow’s invasion of Ukraine, sanctions will be imposed on electrical company Ruselectronics, which produces about 80 per cent of all Russian electronics components and Russian Railways, Foreign Minister Marise Payne said in a statement.

About 600 persons and institutions have now been sanctioned by Australia, including the majority of Russia’s banking industry and all organisations responsible for the country’s sovereign debt. Australia has also provided Ukraine with defence and humanitarian aid, while prohibiting the exports of alumina and aluminium ores, including bauxite, to Russia.