Australia supported the oil and raw materials embargo of Russia. Australian Department of Foreign Affairs and Trade..

Australia will ban the import of oil, oil products, natural gas, coal and other energy products from Russia..

Sanctions will begin on April 25, 45 days after the legislation was registered in the Federal Register on March 11.

Why are sanctions being imposed Australia Imposes Standalone Sanctions on Russia in Response to Russian Threat to Ukraine's Sovereignty and Territorial Integrity. They were first introduced in 2014 and extended in 2015 and 2022..

It is also noted that Australia will extend to the Donetsk and Luhansk regions of Ukraine (the occupied parts - ed.. ) sanctions already applied to Crimea and Sevastopol.

\; as well as a ban on all imports,"

Sanctions against Donetsk and Lugansk regions of Ukraine will be applied from March 28, 2022.

During this time, Australians and Australian organizations with interests in these regions should consider whether their activities in these regions are subject to sanctions..

It also provides for the possibility of imposing sanctions against other territories of Ukraine if they fall under the influence of Russia..

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Earlier, US President Joe Biden announced a ban on the import of Russian oil, gas and coal..

The United Kingdom also officially joined the imposition of an embargo on Russian oil and oil products..

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However, many buyers avoid purchasing Russian raw materials also due to image risks..

So, Russia cannot find buyers for its oil in Asia, despite big discounts. According to Bloomberg, the auction scheduled for last Thursday for the sale of Russian oil in the Asian market did not take place due to the lack of buyers.. This could mean that Asian buyers are also shunning Russian oil, despite what traders are calling "

In addition, as you know, there are problems with the quality of Russian oil..