Why Does Australia Need Adopt a Magnitsky Like Act?

 

Australia - U.S. Magnitsky Act


Australia will acquire a sanction law like the U.S. Magnitsky Act that permits targeted monetary sanctions and travel boycotts against people who are "culprits of intolerable acts of global concern", the foreign affairs minister expressed in August 2021. 

 

A Magnitsky Act is a kind of enactment that empowers state-run administrations to force financial sanctions against foreign people or entities who perpetrate or are engaged with severe human rights violations and corruption overseas. 

 

This enactment works extra-regionally, forcing fines on people or organizations, including freezing and demanding resources and travel boycotts, for acts performed outside the administering nation's jurisdiction. 

 

It gets its name from US laws established to sanction the people liable for the 2009 demise of Russian legal counsellor Sergei Magnitsky, who uncovered serious tax theft by several Russian organizations seized from an American lender.

 

The global drive behind adopting such laws has been advocated by British activist Bill Browder. His mission to hold the authorities liable for the demise of Russian legal counsellor Sergei Magnitsky in 2009 has seen the United Kingdom, United States, Canada, and the European Union adopt such powers.

 

This week the Morrison administration intends to acquaint Magnitsky-styled act with reinforcing its capacity to sanction foreign people. It will empower legislatures to force monetary and travel sanctions against foreign nations or organizations engaged with extreme human rights violations or corruption.

 

However, a few human rights organizations and campaigners, like Geoffrey Robertson, disapprove of the Morrison administration's plans, contending that the methods aren't zeroed in enough on human rights and fail to embrace the full proposals of the advisory committee review.

 

Article Credit: The Diplomat/ BBC/ HRW

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