Foreign Minister Murray McCully has announced what he called "modest and careful" sanctions against specific individuals deemed responsible for the seizure of Crimea from Ukraine and its annexation by Russia.
The sanctions will be limited to a travel ban, a largely symbolic protest given the sparse high-level traffic between Russia and New Zealand.
Mr McCully has not yet specified how many or to whom it would apply.
But the European Union has imposed a travel ban against 33 individuals as well as freezing assets of the target in EU countries. The United States has similarly imposed sanctions against 31 individuals and targeted close aides of Russia president Vladimir Putin.
Mr McCully said New Zealand did not recognize the outcome of the referendum in Crimea supporting a split away from Ukraine to Russia - Russia has now formally annexed the Crimea.