Canada imposes tough new economic sanctions as Ukraine tensions rise

Feb 23, 2022 | Headlines, News

As Russia continues its military action in eastern Ukraine, Prime Minister Justin Trudeau has deployed additional troops and imposed new economic sanctions which will remain in place until Russian forces back down.

“Make no mistake this is a further invasion of a sovereign state and it is completely unacceptable,” said Trudeau in a press conference on Tuesday.

“Today in coordination with allies and like-minded partners Canada is announcing the first round of economic sanctions,” said Trudeau in a press conference on Tuesday.

Russian troops crossed the border into the regions of Donetsk and Luhansk, collectively known as Donbas after Russian President Vladimir Putin signed a decree on Monday recognizing the two areas as independent republics.

“Canada strongly condemns President Putin’s recognition of Donetsk and Luhansk as so-called independent states. This recognition is a violation under Russian obligation under international law and the charter of United Nations,” said Trudeau.

Under the new sanctions, Canada will impose restrictions on the members of the Russian parliament who voted in favour to recognize Donetsk and Luhansk as independent territories.

A ban will also be imposed which will effectively prohibit Canadians from engaging in specific transactions and activities in the region

New prohibitions are also in effect on direct and indirect dealings in Russian sovereign debt, and there are now sanctions on two Russian banks.

“Russian aggression will result in severe consequences,” said Trudeau.

Canada has also ensured that these are not the only steps it is willing to take if Russia does not de-escalate the situation and choose diplomacy.

“Today’s actions are only the first step. The measures Canada and our allies have been preparing will be sustained and they will bite. The economic costs to Russia will be severe,” Deputy Prime Minister and Minister of Finance Chrystia Freeland said on Twitter.

Foreign Affairs Minister Melanie Joly had a similar opinion.

“Canada, with its partners and allies, will react firmly to this blatant disregard for international law,” said Joly on Twitter.

“Putin has walked away from peace and inches towards the horrors of war. New Democrats condemn the attack on the territorial integrity of Ukraine. With the escalating threat of further invasion, Canada must guard the safety, security, and sovereignty of the Ukrainian people,” said NDP Leader Jagmeet Singh.

With growing tensions, Canada has also decided to send additional military contributions to support North Atlantic Treaty Organization.

“We are announcing the authorization of up to 460 additional Canadian Armed personnel under Operation Reassurance. This includes a significant bolstering of Canada’s presence in Latvia where we lead NATO’s enhanced forward presence battle group,” said Minister of Defence Anita Anand during the press conference with the prime minister.