Last year, we forewarned that the full impact on the Australian
market of Russia's invasion of Ukraine was yet to be realised.
Some months later, the full force of the conflict has been felt by
most Australians, primarily through the surging costs of gas and
oil.
For some, an added challenge of the last 12 months has been
navigating the raft of new international sanctions introduced by
the Federal Government in response to the conflict.
Following strong and continual growth in the resources and
renewables sectors in 2022, the steady application of these
sanctions has posed a significant and somewhat underappreciated
risk to the sector generally. With Russian-Australian imports and
exports tending to fall in the resources sector, it is important
that the sector remains aware of its obligations and stays up to
date on appropriate developments. Given the fluidity of the
conflict, variations to Australia's sanctions regime are being
made promptly, and often without any
