SYDNEY – Australia imposed restrictions on Friday on Russian oligarchs linked to Australia’s mining industry. The first was a billionaire who had invested in Rio Tinto (NYSE)’s Gladstone alumina refractory joint venture.

Marise Puyne, Australia’s Foreign Minister stated that Australia is working closely with its international partners in order to raise sanctions on Russian President Vladimir Putin’s oligarchs over Ukraine.

Payne released a statement stating that Australia has added “two billionaires” with business connections in Australia.

These measures will be in addition, she stated, to the curbs placed on 41 oligarchs as well as immediate relatives who are already subject to targeted financial sanctions or travel bans.

Payne said the government welcomed Australian companies taking a principled stand with moves to cut ties with Russia “in protest of Moscow’s illegal, indefensible war against Ukraine”.

Russia asserts it is conducting a “special military operation” against the Ukrainian government for preventing “genocide”. This accusation, which the West denies, has been called a fabrication.

Vekselberg, an investor in Russia’s energy sector has interest in Origin Energy and a company that is working on a project for gas in the Beetaloo Basin of the Northern Territory.

Origin stated it is seeking clarification from the Australian government about the Sanctions and also told Reuters that the Beetaloo Basin Project was not a producing asset with no earnings.

Origin released a statement saying that Origin reiterated its concern at Russia’s invasion of Ukraine. Origin also stated that they will adhere to all Australian laws.

It said Vekselberg owned Lamesa Holdings, which was a minority shareholder in Falcon Oil & Gas, the parent company of Origin’s junior partner in the Beetaloo Basin.

“Neither Lamesa Holdings or Mr Vekselberg is a part of the Beetaloo Basin joint enterprise. It stated that they have not been involved in or had any dealings or involvement with Origin or the Beetaloo Basin Joint Venture.

Rio Tinto (a big Anglo-Australian miner) did not immediately reply to my request for comment regarding the effect of the sanctions against Deripaska. He holds 44.9% share of EN+ Group, an aluminium and power company.

EN+ Group, the largest shareholder of Russian company Rusal has a 20 percent share in Queensland Alumina Limited (QAL) refinery at Gladstone in a joint venture.

Rio Tinto stated previously that it had cut all ties with Rusal to complete its total withdrawal from Russia.

Queensland Alumina Ltd declined to comment on a request.

Deripaska’s controlling stake in EN+ Group was reduced to 70% by 2019 in order to lift previous rounds of U.S. restrictions from major aluminium manufacturer.