New Zealand has intensified its economic measures against Russia to further restrict Moscow’s oil export revenues. The update includes the following actions:

The government has added 100 vessels—often referred to as the “shadow fleet”—alongside 13 companies and 23 individuals to its official sanctions list.

Aligning with recent European Union and G7 adjustments, New Zealand lowered the maximum permitted price for Russian crude oil from $47.60 to $44.10 per barrel.

These measures reinforce New Zealand’s existing stance, which includes a complete ban on importing Russian fossil fuels (active since November 2022) and a ban on providing maritime services—like brokering, financing, and insurance—for Russian oil sold above the price cap (active since April 2024).