Dairy company Fonterra has suspended shipments of its products to Russia.
Fonterra factory in Cambridge Photo: RNZ / Cole Eastham-Farrelly
Figures from StatsNZ show New Zealand exported goods worth $240 million to the country last year, with dairy accounting for about of half of that.
Fonterra director of global stakeholder affairs Simon Tucker said it exported a small amount of product to Russia, primarily butter, totalling about one percent of its annual exports.
"While food, including dairy, is generally exempt from international sanctions regimes and can be traded, we have suspended shipments of product to Russia while we continue to monitor developments," Tucker said.
Tucker said none of its customers were sanctioned individuals or entities, including Russian military or security forces.
"Our people's safety is our top priority. We have seven people based in Moscow with Fonterra Russia and about 35 people based in Saint Petersburg with Fonterra's joint venture Unifood. Both entities continue to operate at this time, however we are keeping an eye on the situation and will take actions as required."