New Zealand expands sanctions on Russia’s oil industry and shadow fleet
Date of publication: November 3, 2025
New Zealand’s Ministry of Foreign Affairs and Trade (MFAT) has imposed a new round of sanctions targeting Russia’s oil trade, the “shadow fleet” vessels used to ship Russian oil, as well as entities from Belarus, Iran, and North Korea involved in refining, transporting, and financing that oil.
The measures aim to disrupt revenue streams supporting Russia’s invasion of Ukraine and reinforce global pressure for negotiations. This is New Zealand’s 33rd round of Russia sanctions.
The new round of sanctions designates:
- 65 shadow fleet vessels: Tankers and other ships circumventing international sanctions by transporting Russian oil without adequate insurance, safety standards, or transparency.
- Foreign enablers: Two Individuals and Seven entities from Belarus, Iran, and North Korea facilitating Russian oil refining, transport, and payments. This includes actors supplying technology, logistics, or financial services that sustain the shadow trade network.
All designations trigger asset freezes in New Zealand and prohibits New Zealand persons from dealing with the sanctioned parties.
Trade measures
New Zealand has imposed a 35% tariff on all Russian imports, banned imports of Russian gold, oil, gas, coal, and certain luxury goods, and prohibited exports to Russia and Belarus of oil exploration and production goods, luxury items, and over 700 additional strategic industrial products. It has also implemented and subsequently lowered the G7+ oil price cap on Russian-origin oil to further restrict Russia's energy export revenues.
Since the Russia Sanctions Act came into force in March 2022, New Zealand has imposed sanctions on more than 1900 individuals, entities, and vessels, alongside a range of trade measures.
Conclusion
New Zealand’s latest sanctions intensify pressure on Russia’s oil revenue by neutralizing the shadow fleet and its multinational support network.
Companies should ensure compliance with the lowered Russian oil price cap and align operations with the maritime Call to Action to avoid secondary risks and reputational damage.
These changes have been updated in ONESOURCE Global Trade Content.
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