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Ukraine war: Canada targets Russian oil, gas manufacturing

Canada is concentrating on Russia’s oil and fuel sector as a part of a brand new spherical of sanctions introduced Saturday.

The federal authorities introduced that in an effort “to assist deplete [Russian] President Vladimir Putin’s conflict chest” and restrict Russia’s means to wage conflict in Ukraine, Canada will develop present sanctions on the nation’s oil, fuel and chemical industries by together with industrial manufacturing.

A press release launched by World Affairs Canada says the brand new measures will prohibit Canadian companies from contributing to the manufacturing of products made by these sectors.

“Canada is unwavering in its help of Ukraine’s sovereignty and territorial integrity. Putin’s unjustifiable conflict has affected thousands and thousands in Ukraine and internationally. That’s the reason we’ll proceed to focus on the Russian regime’s coffers,” Overseas Affairs Minister Melanie Joly stated.

“Canada is not going to relent in pressuring the Russian regime.”

Altogether, oil, fuel, chemical and manufacturing make up greater than 50 p.c of Russia’s federal revenues, the assertion says.

Together with land and pipeline transport, the newest sanctions will embrace the manufacture of metals, in addition to transport, laptop, digital and electrical gear manufacturing and equipment.

Canadian companies may have 60 days to adjust to the sanctions.

The announcement comes a day after the federal authorities introduced further sanctions in opposition to Russian media, in addition to the top of the Russian Orthodox Church, Vladimir Mikhailovich Gundyayev, who has spoken favorably of Putin’s conflict in Ukraine.

As of July 7, Canada has sanctioned greater than 1,600 individuals and organizations in Russia, Ukraine and Belarus since 2014 following Russia’s annexation of Crimea, together with greater than 1,150 because the invasion of Ukraine in February, World Affairs Canada says.

With recordsdata from The Canadian Press

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