Canada announces new economic sanctions against russia
Minister of Foreign Affairs Melanie Joly has announced that Canada intends to impose further sanctions in relation to Russia's illegal and unjustifiable invasion of Ukraine.
This is said in a press release published on the website of Government of Canada.
"These new sanctions will apply to land and pipeline transport and the manufacturing of metals and of transport, computer, electronic and electrical equipment, as well as of machinery," the document reads.
It is noted that the oil, gas, chemical and manufacturing sectors account for more than 50% of Russia's federal budget revenues, which it uses to wage its illegal and unprovoked war in Ukraine. "As such, to help deplete President Vladimir Putin's war chest and further limit Russia's ability to wage war, Canada will expand existing measures on the oil, gas and chemical sectors to include industrial manufacturing," the document reads.
These new sanctions are based on the extensive restrictions that Canada continues to impose on the Russian regime, including those announced by Minister of Foreign Affairs Melanie Joly at the G20 in Bali, Indonesia on July 8.
As reported, since Russia's illegal occupation and attempted annexation of Crimea in 2014, Canada has imposed sanctions on more than 1,600 individuals and entities. Many of these sanctions have been undertaken in coordination with Canada's allies and partners.
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