June 27, 2022

New Canadian Sanctions Against Russian Energy

The sanctions are aimed at 28 services essential to the operation of Russia’s oil, gas and chemical industries, according to a Canadian Foreign Ministry press release.

Canada announced Wednesday that it has imposed a series of new sanctions on the Russian oil, gas and chemical industries in “response to Russian President Vladimir Putin’s ongoing, blatant and unjustified invasion of Ukraine.”

This is according to a press release posted Wednesday by Canada’s Ministry of Foreign Affairs on its electronic website.

These new sanctions were imposed under a “provision for special economic measures against Russia.”

“These new measures impose an export ban on 28 services essential to the oil, gas and chemical industries, including technical, managerial, accounting and advertising services,” the statement said.
“The ban on exports of oil, gas and chemical services targets an industry that accounts for about 50 percent of Russia’s federal budget revenues,” the text reads.

These measures, Canadian diplomacy continues, “put additional pressure on President Putin to immediately withdraw his troops from Ukrainian soil.”

Furthermore, the ministry adds that “Canada is unwavering in its belief that Ukrainians deserve to live in peace and begs the Russian leadership to end the senseless war.”

These measures, the text suggests, “will reduce Russia’s ability to wage war and send a clear message to the Russian regime.”

The message is that “Canada will not back down in its efforts to hold accountable those responsible for the destruction in Ukraine and will continue to work with like-minded individuals in the international community to coordinate further action.”
It should be noted that since the start of the war in Ukraine, late last February, Canada has imposed sanctions on more than 1,070 individuals and entities in Russia and Belarus.