Ukrainians in NZ urge Govt to seize Russian financial interests

This article originally appeared in 1News and is written by Katie Bradford. 

Ukrainians in New Zealand are pleading with the Government to do everything it can to sanction Russia and send a message to the Russian Government - which includes seizing millions of dollars worth of Russian financial interests held here.

Anastasiya Gutorova, a Ukrainian lawyer in New Zealand, has launched a petition calling on the New Zealand Government to freeze all assets of non-resident Russians and for those to be permanently confiscated if the invasion continues.

Gutorova has been in New Zealand for 16 years, while her family are still in Ukraine. Her brother who has no experience in combat has been conscripted to fight.

“It’s pretty hard watching the news and not knowing what your family is going through right now. Regular people, civilians, picking up guns to fight, it’s happening because they’re defending their motherland.”

She said the Government should freeze the assets of Russian oligarchs in New Zealand and use the money to rebuild Ukraine.

"We need to use most effective and quickest ways to stop this and to do that we need to push people to have the power and ability to stop this," Gutorova said.

Land Information NZ told 1News that Russian investors own eight properties, totalling 2500 hectares, including luxury resort Helena Bay in the Bay of Islands.

When asked if the Government would consider freezing assets of non- resident or non-citizen Russians in light of the invasion, Prime Minister Jacinda Ardern said, "we haven't taken any options off the table", in an effort “to reinforce strong condemnation” of Russia's actions.

"We are continuing to seek advice on other actions beyond what we've already done now."

She has received advice on incoming investment in New Zealand from Russia.

"That has been fairly minimal in recent times, but it is one of the things we are interested in looking at because what we wouldn’t want to see is that a result from action from other countries, any attempts for onward investment into New Zealand."

1News also revealed on Monday that hundreds of KiwiSaver and New Zealand investment funds are invested in Russian companies.

Barry Coates, former Green MP and CEO of Mindful Money, a charity website that shows consumers all the companies their KiwiSavers are investing in, said some of the companies could be considered as "financially propping up the Russian Government" in the invasion of Ukraine.

Some Kiwisavers were already pulling shares out of Russian companies.

The US Department of the Treasury described oligarchs as “powerful Russian elites”.