Overnight the US, UK and European Union sanctioned Russia. Prime Minister Scott Morrison followed this afternoon, announcing Australia's response to Russia's invasion of eastern Ukraine.
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He says the sanctions will target Russian individuals abetting the aggression against Ukraine, as well as financial entities like banks.
Sanctions in Donetsk and Luhansk, the eastern Ukraine regions held by Russian-backed separatists and where Russia is moving troops into, will target transport, energy, telecommunications, oil, gas and mineral reserves.
Mr Morrison expected there would be more sanctions to come, and said this was the first step in responding to Russian aggression. Sanctions would ramp up if Russia continued escalating the conflict.
The Prime Minister warned there could be a full-scale invasion of Ukraine within 24 hours.
Meanwhile, more COVID-19 restrictions are set to be eased. NSW will no longer require masks in high schools for students or staff from Monday, February 28, while visitors and parents will be allowed back on school grounds. From Monday, March 7, masks will no longer be required for primary school and early education staff.
In the ACT, mandatory indoor mask requirements will be ditched in many places from this weekend. Masks will still need to be worn in certain places including on public transport, taxis or rideshare services, hospitals, aged care facilities and at Canberra Airport. Some will need to wear them in schools.
Australian children are getting more choice in how they are vaccinated as a second type of COVID-19 vaccine has been approved for young people. Six to 11 year olds will able to receive the Moderna vaccine from tomorrow.
The Australian Technical Advisory Group on Immunisation gave the final green light for the vaccine to be rolled out across the country.
Health Minister Greg Hunt said the approval would help boost Australia's child vaccination rate, which now stands at nearly 50 per cent.
The Australian Bureau of Statistics announced wages grew last year at their highest rate since mid-2019, but at 2.3 per cent annual growth is still way behind inflation.
The wage price index rose 0.7 per cent in the December quarter, with annual growth continuing to steadily rise from the record low of 1.4 per cent seen at the tail-end of 2020. Wages are still lagging behind the rate of inflation, which stands at 3.5 per cent.
NSW Premier Dominic Perrottet said he will be seeking legal advice over the decision of Transport for NSW officials to shutdown Sydney's rail network on Monday.
The Premier is looking into whether bureaucrats breached the requirement to keep Transport Minister David Elliott informed of significant activities on the network. The minister says he was not informed of the lockdown because he was asleep.
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