The government is slapping sanctions on Russians with connections to New Zealand and President Putin.
New legislation will let the government freeze the assets of people associated with Russia, and prevent Russian elites from moving their money and assets to New Zealand.
Russian flagged super yachts, ships and aircraft will be blocked from entering New Zealand waters or airspace.
The government has also released a list of 100 people on the black list - banned from coming to New Zealand. Top of the list - President Vladimir Putin.
Prime Minister Jacinda Ardern says with Russia using its veto power to avoid UN sanctions, the government has decided to bring in these moves.
She says the bill will pass through the house under urgency this week.
Robert Ayson is Professor of strategic studies at Victoria University of Wellington. He told Checkpoint the move to bring Russian sanctions into law is more than a symbolic one.
"I think the theory of it is that you are trying to make Putin unpopular amongst the fellow members of the core elite.
"A number of these people in banking positions, for example, have been in positions of political influence in Russia... So there's that sense in which there's a key group of elite people in Russia, who support Putin and have benefited from Putin. If they start to squeal, then that affects Putin's own position.
"Just because you're Russian and wealthy doesn't mean you're part of that group. So I think the government has tried to make that distinction."
