“Australia will escalate its sanctions against Russia, with the government barring arms exports to the country and denying Russian state-owned banks new access to the Australian capital market. Tony Abbott told parliament on Monday that Australia would follow the European Union in adopting tougher sanctions against Russia, accusing Moscow of ‘deliberately and now openly violating Ukrainian sovereignty’. The new sanctions will ban arms exports to Russia, bar Russian state-owned banks from further access to the Australian capital market and rule out oil and gas exports to the country.”
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