Canada on Monday announced a new round of sanctions against Russia’s economy, following similar measures imposed by the United States and other Group of Seven (G7) partners in response to the Kremlin-ordered military invasion of Ukraine. .
Under the lockdowns, Canadian financial institutions are prohibited from trading assets with the Russian Central Bank and the country’s sovereign wealth funds.
The funds even had their assets in Canada frozen.
“Canada and its allies continue to take concerted steps to ensure that Russia’s invasion of Ukraine is a strategic failure,” said the country’s Deputy Prime Minister and Finance Minister Chrystia Freeland.
According to the Canadian government’s note, the scale of measures against the Russian Central Bank is unprecedented among monetary authorities from the Group of Twenty (G20) countries.
In addition to sanctions, Canada highlighted that it has increased financial support to Ukraine, including military training in the country, up to US$620 million in loans and on-lending nearly US$10 million in military equipment and ammunition.
Source: CNN Brasil
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