Canada announces sanctions on Russia amid tensions with Ukraine
- Canada has announced sanctions on Russia as tensions with Ukraine escalate
- Canadians have been banned from all financial dealings with the breakaway states in Ukraine
- They have also been barred from purchasing Russian sovereign debt
Canada has joined the list of countries that have imposed sanctions on Russia as tensions escalate on the Ukraine border.
The move comes a day after Moscow recognised seperatist regions in eastern Ukraine, Donetsk and Luhansk (or collectively known as Donbas), as independent entities and deployed troops for ‘peacekeeping’. The Russian upper house voted unanimously, allowing President Vladimir Putin to send army abroad, a move that could trigger an invasion in Ukraine.
The sanctions imposed by Canada include banning Canadians from all financial dealings with the Donbas region, barring them from purchasing Russian sovereign debt, dealing with two state-backed Russian banks, and sanctioning members of the Russian parliament who voted in favour of recognising the breakaway states’ independence, according to an ANI report.
Also Read: Putin’s actions are beginning of Russian’s invasion of Ukraine: Biden
Prime Minister Justin Trudeau made the announcement at a news conference, saying, “Make no mistake, this is a further invasion of a sovereign state and it is absolutely unacceptable.”
“Russia’s brazen provocations are a threat to security and peace in the world,” he said, adding that the sanctions “will remain in place until the territorial integrity of Ukraine is restored”.
On Twitter, the PM wrote, “Russia’s illegal actions in Ukraine are an attack on democracy – and a threat to peace around the world. Make no mistake: This is a further invasion of a sovereign state. In coordination with allies and partners, Canada is responding with a first round of economic sanctions.”
“We’re also deploying up to an additional 460 members of the Canadian forces to strengthen NATO. This involves more troops to Latvia, as well as the deployment of an additional frigate and maritime patrol aircraft,” he added.
With this, Canada joins the likes of countries such as the United States, Germany, and the United Kingdom that announced sanctions in retaliation to Russia’s latest move.
Also Read: Ukraine crisis: Sanctions against Russia unanimously approved by European Union
For instance, US President Joe Biden announced ‘the first tranche of sanctions to impose costs on Russia in response to their actions’ in Ukraine. In an address from the White House, the Democrat described Russia President Vladimir Putin’s moves as the beginning of an invasion. He promised that more sanctions would be coming if Putin proceeds further.
Germany, on the other hand, has suspended the certification process for the Nord Stream 2 natural gas pipeline after Russia recognized separatist-held regions in eastern Ukraine, with the West fearing a full-scale invasion is next, reported AP.
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