The Minister for Foreign Affairs intends to designate gold as an ‘import sanctioned good’ for Russia under subregulation 4A(3) of the Autonomous Sanctions Regulations 2011.

Subregulation 12(A)(1) of the Autonomous Sanctions Regulations 2011 (the Regulations) prohibits the making of a sanctioned import without authorisation (by way of a sanctions permit). Subregulation 4A(1) of the Regulations provides that a person makes a sanctioned import if the person imports, purchases or transports ‘import sanctioned goods’. In accordance with regulation 4A(3) of the Regulations, the Minister for Foreign Affairs (the Minister) intends to designate, via legislative instrument (the instrument), gold as an ‘import sanctioned good’ for Russia. This is in addition to those goods already designated under the Autonomous Sanctions (Import Sanctioned Goods—Russia) Designation 2022. 

The definition of gold in the instrument is: ’gold (including gold plated with platinum) in unwrought or in semi-manufactured forms, or in powder form, that was exported from Russia after the commencement of the Autonomous Sanctions (Import Sanctioned Goods—Russia) Amendment (No.1) Designation 2022’. This definition corresponds to the Combined Australian Customs Tariff Nomenclature and Statistical Classification code 7108. Gold that has already been exported from Russia prior to the commencement of the Autonomous Sanctions (Import Sanctioned Goods—Russia) Amendment (No.1) Designation 2022 is not captured.

An exposure draft of the instrument that, once in force, will designate gold under regulation 4A(3) of the Regulations is available to download below.

• Autonomous Sanctions (Import Sanctioned Goods—Russia) Amendment (No.1) Designation 2022 [PDF 190 KB]
• Autonomous Sanctions (Import Sanctioned Goods—Russia) Amendment (No.1) Designation 2022 [Word 255 KB]
  
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Potentially impacted persons or entities are encouraged to seek independent legal and/or financial advice.

Should you have any questions, you can contact the Australian Sanctions Office using our online portal, Pax.

This period of public consultation will close at 5pm on Monday 29 August 2022.