10:21 25.07.2014

Canada expands sanctions against Russian companies

1 min read
Canada expands sanctions against Russian companies

Canada has imposed sanctions on a number of Russian companies and banks due to the situation in Ukraine, the BBC has reported.

"The measures we are announcing today include sanctions against a broad range of entities from Russia's arms industry, as well as from its financial and energy sectors. Our unequivocal aim is to further increase economic and political pressure on the Putin regime," Prime Minister Stephen Harper said in a statement on July 24.

In particular, sanctions were imposed on Gazprombank, Vnesheconombank and Novatek.

In addition, Canada introduced sanctions against several Russian defense companies, the self-proclaimed Donetsk and Luhansk People's Republics and a number of their representatives.

The sanctions will also affect Kalashnikov Concern, a small arms manufacturer.

Harper said that "substantively new measures impose restrictions on the issuance of new financing for the designated energy and financial entities."

Earlier, Canada has already introduced economic and visa sanctions against a number of individuals and legal entities in Russia due to the situation in Ukraine.

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