Canada imposes new sanctions against Russia

Canada imposes new sanctions against Russia

Canada is once again targeting the Russian economy. Russia and Belarus are on a par with North Korea.

According to Deputy Prime Minister and Minister of Finance Christie Freeland, Canada has decided to revoke Russia's "most favored nation" status. As punishment for the military operation in Ukraine, any exports from Russia and Belarus to Canada will now be subject to a duty of 35%. Belarus came under sanctions because it was used as a springboard for Russian troops. Apart from North Korea, these two former Soviet bloc countries are the only ones to which Canada has taken such harsh trade measures. In her statement, Freeland called on other countries to impose more serious sanctions on Russia.

Rosneft and Gazprom are also under sanctions. This move follows an earlier decision to stop all oil imports from Russia. So far, including these companies, Canada has imposed sanctions on more than 1,000 Russian individuals and entities.

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