U.S., Allies Are Ramping Up Sanctions on Russia, but One Country Is Sitting Out

New Zealand, a close U.S. ally, has been limited in how far it can go punishing Russia over its invasion of Ukraine

A powerful coalition of democracies announced it would cut off some Russian banks from the global payment system Swift. Here’s how Swift works, and how the move could ramp up pressure on Russian President Putin. Photo Illustration: Dado Ruvic/ReutersWELLINGTON, New Zealand—A close U.S. ally, New Zealand has been limited in how far it can go punishing Russia over its invasion of Ukraine. Now some lawmakers are pushing for the country to adopt a law that would allow it to do more.

New Zealand—a member of the “Five Eyes” intelligence grouping that includes the U.S., Canada, Australia and the U.K.—doesn’t have an independent sanctions law that would allow it to target Russian President Vladimir Putin, lawmakers and oligarchs directly while also restricting Russia’s

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