Australia imposed targeted financial sanctions on 14 Russian state-owned enterprises on Thursday, including defence-related entities such as truckmaker Kamaz, and shipping companies SEVMASH and United Shipbuilding Corp.

Sanctions will also extend to electronic company Ruselectronics, responsible for the production of around 80% of all Russian electronics components, and Russian Railways over Moscow's invasion of Ukraine, Foreign Minister Marise Payne said in a statement.