The Australian prime minister has promised “further waves of sanctions” against Russians including hundreds of members of parliament as he condemned Vladimir Putin for the brutal and unprovoked invasion of Ukraine.
Scott Morrison said the Russian president had chosen war and Australia would “band together” with the international community to “ensure there is a cost for this violent, unacceptable and egregious behaviour”.
But the Ukrainian embassy’s head of mission in Australia wants the federal government to do more, calling for the Coalition’s sanctions to “significantly expand”.
The invasion was condemned by both sides of politics in Australia, with the Labor leader, Anthony Albanese, saying it was “a grave moment for humanity”. Australia and its allies must hold Russia to account for the “shameful act of aggression”, he said.
Within minutes of Putin’s short televised address announcing a “special military operation” about 5am Ukrainian time on Thursday, explosions were heard near major Ukrainian cities, including the capital Kyiv. Ukraine’s government introduced martial law in response to what it said was “a full-scale invasion”.
Morrison, speaking after briefings from Australian intelligence and security officials in Sydney, said the Russian government had “launched a brutal invasion, unprovoked, on Ukraine, and should be condemned for doing so”.
“Right now, our thoughts are very much with those in Ukraine – those who are enduring a terrible invasion as the bombs fall and the shelling continues and the bullets are fired, as special forces from Russia are moving towards Kyiv and tanks are rolling in all around their borders,” Morrison said.
A day after announcing sanctions on eight members of Russia’s national security council, Morrison said the government was applying measures on an additional 25 people.
“This includes army commanders, deputy defence ministers and Russian mercenaries who have been responsible for the unprovoked and unacceptable aggression,” he said.
Sanctions would also be applied to four entities involved in the development and sale of military technology and weapons, he said. Australians would be banned from dealing with a further four financial institutions.
“There will be further waves of sanctions as we identify those responsible for these egregious acts, including – as I discussed this afternoon with the Department of Foreign Affairs and Trade – moving on over 300 members of the Russian parliament.”
Morrison stopped short of expelling the Russian ambassador, Alexey Pavlovsky, from Australia, saying it was important to maintain channels of communication “even in moments of terrible conflicts such as this”.
Morrison did not immediately detail which individuals and entities the sanctions would apply to. A list could be released publicly in the coming days, once the Australian assets of those being targeted are frozen or cut off.
The prime minister and the foreign minister, Marise Payne, said in a joint statement that Putin had “fabricated a feeble pretext on which to invade”. “Russia’s disinformation and propaganda have convinced no one,” they said.
Volodymyr Shalkivskyi, the Ukrainian embassy’s head of mission in Canberra, told ABC’s 7.30 program his government appreciated any help provided by foreign nations but sanctions “can change the situation”.
“We will ask our partners to significantly expand sanctions against Russia,” he said.
“We hope that there will be a next stage of sanctions that will cover more people who are involved in the aggression against Ukraine. It will be different financial and energy institutions of Russian origin and Russian oligarchs who have a significant influence on the Kremlin.”
Shalkivskyi said Ukraine’s government would “defend our country”. “We were warned, we had time to prepare.”
The Australian government has said it stands ready to support internationally coordinated action to respond to any price or supply shocks in energy markets.
Morrison said while Australian officials still had no evidence of any state-sanctioned cyber-attacks on Australian targets, the Australian Cyber Security Centre and the corporate sector were prepared for the possibility.
He urged the estimated 1,400 Australians who remain in Ukraine to leave if safe to do so and to register with Dfat.
The prime minister said his thoughts were with Australians of Ukrainian descent, and also with Australians of Russian descent, who he said “will also be feeling terrible about these events”.
The attack on Ukraine follows Putin’s announcement of a “special military operation” which the Russian president claimed was needed to achieve the “demilitarisation” of the country. Putin argued “a hostile anti-Russia is being created on our historic lands”.
But Albanese said Putin’s attack on Ukraine was “wholly unprovoked and without justification” and the Russian government alone bore responsibility “for the bloodshed and suffering that will follow”.
Albanese and the shadow foreign affairs minister, Penny Wong, said the attack would have broader ramifications.
“It is also a contemptuous attack on one of the core principles of the post-World War II order, which is that all UN members shall refrain in their international relations from the threat or use of force against the territorial integrity or political independence of any state,” they said in a statement.
The Victorian opposition leader, Matthew Guy, who has family in Kharkiv, said: “Australian Ukrainians watch with horror at the invasion of a European democracy by the Putin dictatorship.”
Public buildings in Melbourne’s CBD are to be lit up in the blue and yellow of the Ukrainian flag in a show of support to the people of Ukraine. The state premier, Daniel Andrews, said it would be “a distressing time for Victorian Ukrainian and Russian communities”.
Russia’s invasion of Ukraine saw investors dump assets deemed to be relatively risky, sending stocks lower across the Asia-Pacific, while prices of bonds, oil and gold rose.
Australia’s benchmark ASX200 share index tumbled almost 3% on Thursday, ending at 6,900.6 points for the lowest close this month. It was the worst day in about 17 months and erased $73bn from the market’s value, the Australian Financial Review reported.
Bourses across the region posted similar falls of 2-3%, with Singapore’s 2.9% decline the largest intraday slide since mid-May. US futures were pointing to falls at 2% when Wall Street reopens later on Thursday.
The Australian dollar fell about half a US cent for the day to 71.9 US cents. The Russian rouble is more akin to rubble, dropping 5.8% to a record low 86.12 per US dollar, Reuters reported.
Investors bought up government bonds from Australia, the US and elsewhere, pushing prices up and yields lower.
Many commodities, though, were in demand as investors speculated that sanctions and disruptions could limit supplies.
Brent crude oil breached $US100 a barrel price for the first time since 2014, raising the prospect that Australian motorists will soon have to dig even deeper to pay for fuels that are already at record levels.
Economists, such as Saul Eslake, have been wary about predicting much fallout for the Australian dollar, noting the local economy had a strong head of steam coming out of the Covid disruptions.
More expensive energy, as well as turmoil on financial markets, could dim consumer confidence, they say.
Food prices will also be worth watching – and could stoke inflationary pressures. A Bloomberg gauge of agricultural commodities hit a record high on Thursday.
Earlier on Thursday, the Australian government revealed it would wait until the end of March to bring into force the sanctions that specifically curb trade with the two Ukrainian regions now recognised as independent by Putin.
However, the initial sanctions on eight members of Putin’s security council will take effect from midnight Thursday.
