Australia Extends Tariff Hike on Russian, Belarusian Goods

Australia this week renewed its “punitive” tariffs on certain Russian and Belarusian goods to further penalize Russia for its war on Ukraine (see 2203310012). The measure, which will now remain in effect until October 2023, imposes an additional 35% tariff on imports from Russia and Belarus. Australia will also reject any requests for loans or other finance that support trade with or investment in Russia or Belarus. Energy imports from Russia are already prohibited, the country noted.