“Together with its partners and allies, Australia is announcing a series of economic sanctions against Russia.
Australia will also impose targeted sanctions on eight Russians who will be banned from entering Australia and prohibited any financial transactions associated with Australian structures and organizations.
Sanctions will also affect one state-owned bank in Russia and banks associated with the defense and military industry, ”TASS quoted Morrison as saying at a press conference.
Earlier, United States President Joe Biden announced the introduction of blocking restrictions against two large Russian financial corporations.
He also announced the imposition of sanctions on Russia's sovereign debt.
As White House press secretary Jen Psaki explained, the US authorities hope for a deterrent effect from the sanctions imposed on Russia.
On February 21, Russian President Vladimir Putin signed decrees on Russia's recognition of the independence of the LNR and the DNR.
More details in the material RT.