Australia is a stable, democratic and culturally diverse nation with a highly skilled workforce and one of the strongest performing economies in the world.
The Australian Sanctions Office (ASO) has released 6 new guidance notes to help Australians and Australian businesses comply with certain aspects of Australian sanctions laws.
The Sanctions Risk Assessment Tool is a structured questionnaire which can be used by regulated entities to inform a preliminary assessment of the sanctions risks associated with a given activity.
The Sanctions Compliance Toolkit provides a comprehensive guide aimed at helping regulated entities and legal professionals navigate the complexities of Australian sanctions laws.
This guidance note outlines the prohibitions on dealing with designated persons or entities under Australian sanctions laws. It details restrictions on providing financial assets to these parties and managing assets they own or control.
Australian sanctions laws can affect various activities conducted by Australian universities, especially when enrolling a student, employing a person, or engaging in research collaborations with persons and entities from sanctioned countries.
Australian sanctions laws impose strict prohibitions on dealing with designated persons or entities, including to require financial institutions and other entities to freeze assets owned or controlled by these persons or entities.
Members of the public can report sanctions non-compliance to the ASO by email to sanctions@dfat.gov.au, or submitting a query through DFAT’s sanctions portal, Pax.
This guidance note is produced by the Australian Sanctions Office (ASO) within the Department of Foreign Affairs and Trade (DFAT). It provides a summary of relevant sanctions laws but does not cover all possible sanctions risks.
Australia remains committed to implementing the Oil and Petroleum Price Caps alongside G7 partners. Entities can apply for a sanctions permit to authorise the transportation of Russian oil and refined petroleum products, and associated financial assistance and services, consistent with Oil and Petroleum Price Caps policy.
