Tigers Realm will sell its operations $74 million after the Federal Court ruled last month the company was in breach of sanctions against Russian interests.
Tigers Realm shareholders, including billionaire Paul Little, are set to approve the sale of its Russian coal mines but a sanctions complication looms.
Russia is the most sanctioned country in the world, with a number of countries, including Australia, rolling out restrictions against some individuals and entities in an effort to curb Russian President Vladimir Putin’s war in Ukraine. But recent challenges to Australia’s autonomous sanctions regime has experts calling for more enforceable sanctions.
In response to Russia's full-scale invasion of Ukraine, Australia has expanded sanctions against some Russian individuals and entities. But recent challenges have prompted experts to question whether the sanctions are strong enough.
ASX-listed Tigers Realm, which mines coal in Russia, unsuccessfully challenged the application of sanctions on its operations. It's the latest in a string of unsuccessful challenges against Australian sanctions.