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On 24 February 2022, hours after Russia's invasion of Ukraine began, the UK Foreign Secretary announced a full asset freeze on VTB, Russia's second-largest bank (£154bn in assets, 95,000 employees), alongside a freeze on all Russian bank assets in the UK and a ban on Russian companies raising finance on UK markets. The package designated more than 100 companies and individuals -- including five major defence firms (Rostec, Uralvagonzavod, Tactical Missile Corporation, United Aircraft Corporation, United Shipbuilding Corporation) and Putin-inner-circle figures such as Kirill Shamalov -- for asset freezes and travel bans. Aeroflot was banned from UK airspace and new export controls were imposed on electronics, telecommunications and aerospace goods to Russia.

The Autonomous Sanctions Act 2011 (Cth Act No. 38 of 2011; assented 12 April 2011, commenced 6 December 2011 with the Autonomous Sanctions Regulations 2011) is Australia's foundational parent statute enabling the entire autonomous sanctions regime — economic and travel measures imposed unilaterally by Australia independently of UN Security Council mandatory obligations. The Minister for Foreign Affairs may, by legislative instrument, impose targeted financial sanctions, travel bans, and vessel-dealing prohibitions on designated persons, entities, and vessels. As of 2026 the Act underpins Australia's autonomous sanctions programs against Russia, Iran, DPRK, Myanmar, Belarus, Syria, Venezuela, Zimbabwe, Libya, Ukraine (occupied territories), and other regimes, and was materially extended in December 2021 to authorise Magnitsky-style thematic human-rights and corruption sanctions. Structurally peer-foundational to the UK Sanctions and Anti-Money Laundering Act 2018 (SAMLA), Canada's Special Economic Measures Act 1992 (SEMA), Japan's FEFTA sanctions provisions, and the EU's Anti-Coercion Instrument — the ASA 2011 completes the G7+AU sanctions-parent-statute set in the IPTM register.