Canada has announced a fresh round of sanctions against Russia, adding 38 entities and 24 individuals to its sanctions list as part of efforts to weaken Moscow’s military capabilities and increase economic pressure over the ongoing war in Ukraine.
Canadian Foreign Affairs Minister Anita Anand announced the measures on the sidelines of the G7 Foreign Ministers Meeting in Paris, France.
Defence Industry and Missile Technology Targeted
- According to the Canadian government, the new sanctions target organisations and individuals linked to Russia’s defence industrial sector, including those involved in developing ballistic missile technology.
- The measures also focus on activities connected to Russian cyber operations and networks that allegedly help Moscow obtain restricted technology and sustain its military operations.
Crypto Exchanges and Financial Networks Included
- Canada is also targeting financial networks that help support Russia’s war economy, including cryptocurrency exchanges and other financial facilitators.
- The sanctions are intended to restrict Russia’s ability to access financial resources and use international networks to avoid existing restrictions.
Canada Reaffirms Support for Ukraine
- Minister Anita Anand said the measures are aimed at reducing Russia’s ability to launch missile attacks against Ukrainian cities.
- She reaffirmed Canada’s commitment to supporting Ukraine and maintaining economic pressure on Russia until it ends its military aggression and respects Ukraine’s sovereignty and territorial integrity.
- According to the Canadian government, the country has imposed sanctions on more than 3,500 individuals and entities and over 700 vessels since 2014 in connection with violations of Ukraine’s sovereignty and territorial integrity and human rights concerns.
Continued International Pressure on Moscow
- The latest announcement reflects Canada’s continued coordination with its international partners, particularly G7 countries, to restrict Russia’s military supply chains, financial networks and defence related activities.
- The new measures form part of Canada’s broader sanctions policy in response to Russia’s ongoing war against Ukraine.
Business Galaxy: The latest sanctions highlight continuing international efforts to increase economic and military related pressure on Russia as the conflict in Ukraine continues.
Source: Government of Canada, Global Affairs Canada and Reuters.
