In 2024, the Australian sanctions landscape continued to evolve, underscoring foreign policy initiatives to address global security threats through targeted financial and trade restrictions. In particular, 2024 saw the continued expansion of intensified sanctions measures against Russian entities and individuals, particularly those involved in human rights abuses, corruption, and cybercrime, as well as new measures targeting North Korean arms suppliers to Russia.
Alongside these developments, a number of Federal Court cases clarified key aspects of the Australian sanctions framework, offering critical guidance on sanctioned dealings and supply prohibitions, and influencing policy.
A review of Australia’s sanctions framework by the Australian Government also explored potential sanctions reforms aimed at enhancing the effectiveness, clarity, and humanitarian considerations of Australia’s sanctions laws.
As we close out the first quarter of 2025, scrutiny of Australia’s sanctions framework continues. In particular, multiple Parliamentary Committee reviews have released reports outlining recommendations for ongoing reform to the Australian sanctions landscape. Additionally, the Australian Sanctions Office (ASO) has released a suite of guidance and advisory notes to assist Australians and Australian businesses to comply with aspects of Australian sanctions laws.
These continuing developments underscore the importance for companies to remain alert to legal change and have robust sanctions compliance frameworks that equip their business to respond.
This article brings together the key sanctions updates for 2024 and outlines developments as we look ahead through 2025.
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