Australia has imposed fresh sanctions against Russia and the country’s entities as well as an export ban on machinery and related parts.

The new financial sanctions target 21 entities including subsidiaries of the state-owned atomic energy corporation Rosatom, which took over a Ukrainian nuclear power plant.

Russia’s largest petroleum and gold companies Rosneft and Polyus along with steel company Severstal have been hit with the sanctions, as well as defence companies supporting the war and five of the nation’s banks.

Three individuals have been targeted including the head of the federal financial monitoring service and two Rosatom board members who double as aides and advisers for President Vladimir Putin.

An export ban has been placed on all machinery and related parts to Russia and areas under Russian control to prevent Australian goods from aiding its invasion of Ukraine.

The new wave of sanctions form part of a co-ordinated effort from G7 nations and their partners as world leaders gather in Japan for a three-day summit.

Strategically targeted

Foreign Minister Penny Wong said the tranche targets sectors of economic and strategic importance to Russia.

“This includes the financial, energy, defence and metals sectors that aid and sustain Russia’s war in Ukraine,” she said.

“Russia cannot be allowed to infringe upon another country’s sovereignty and territorial integrity.”

The move came as Prime Minister Anthony Albanese arrived in Hiroshima for the G7 summit, where he said Australia stands by Ukraine’s unwavering courage and again called on Russia to end the war.

“The struggle of the Ukrainian people is a struggle for the international rule of law,” he said.

“The people of Ukraine are making enormous sacrifices in order to preserve their nation-state, their democracy, and it’s important that the world stand with Ukraine,” he said.

“We will continue to liaise with them about what further support we can give.”

‘A world without nuclear weapons’

He said discussions with G7 nations and partners would also address the wider impacts of Russia’s invasion, including food and energy security.

Australia is not a forum member but was invited to attend along with a handful of other countries.

After touring the city’s Peace Memorial Park, Mr Albanese said it was a reminder of the need for the global community to work towards nuclear disarmament.

“Australia is deeply committed to a world without nuclear weapons and I’m personally very committed to that task as well,” he said.

“We know the consequences because we see them right here.”

Australia has partnered with G7 nations to maintain pressure on Russia over its invasion of Ukraine and Vladimir Putin’s threats to use nuclear weapons.

-with AAP