The Minister for Foreign Affairs intends to designate gold as an ‘import sanctioned good’ for Russia under subregulation 4A(3) of the Autonomous Sanctions Regulations 2011.
Subregulation 12(A)(1) of the (the Regulations) prohibits the making of a sanctioned import without authorisation (by way of a sanctions permit). Subregulation 4A(1) of the Regulations provides that a person makes a sanctioned import if the person imports, purchases or transports ‘import sanctioned goods’. In accordance with regulation 4A(3) of the Regulations, the Minister for Foreign Affairs (the Minister) intends to designate, via legislative instrument (the instrument), gold as an ‘import sanctioned good’ for Russia. This is in addition to those goods already designated under the .
The definition of gold in the instrument is: ‘gold (including gold plated with platinum) in unwrought or in semi-manufactured forms, or in powder form, that was exported from Russia after the commencement of the Autonomous Sanctions (Import Sanctioned Goods-Russia) Amendment (No.1) Designation 2022’. This definition corresponds to the Combined Australian Customs Tariff Nomenclature and Statistical Classification code 7108. Gold that has already been exported from Russia prior to the commencement of the Autonomous Sanctions (Import Sanctioned Goods-Russia) Amendment (No.1) Designation 2022 is not captured.
An exposure draft of the instrument that, once in force, will designate gold under regulation 4A(3) of the Regulations is available to download below.
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