Canada is ready with a “biting” next round of export controls and financial penalties targeting Russian “oligarchs,” lawmakers and banks in retaliation for Moscow’s latest move into Ukraine, says the federal government.
OTTAWA—
Joly said the sanctions will hit Russia’s ability to finance and sustain a war in Ukraine, not just the personal wealth of President Vladimir Putin and his inner circle. On Twitter, the embassy posted a declaration Wednesday warning “unilateral sanctions against Russia imposed by the Government of Canada are illegitimate and illegal,” and vowed retaliation “following the principle of reciprocity.”
Conservative foreign affairs critic Michael Chong told the Star that “Canada’s security is inextricably tied to that of Europe’s. The government has not treated seriously enough Russia’s threats to democracies in Europe.” Canada’s sanctions were issued under the Special Economic Measures Act and ban all financial dealings “with the so-called independent states of Luhansk and Donetsk,” said Prime Minister Justin Trudeau.
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