(UTV | CANADA) – Justin Trudeau on Tuesday imposed a series of sanctions against Russia, taking action against Moscow.
Canada’s Prime Minister Justin Trudeau on Tuesday imposed a series of sanctions against Russia, taking action against Moscow after President Vladimir Putin announced recognition of ‘independence’ for Ukraine’s separatist regions of Donetsk and Luhansk.
“Russia’s illegal actions in Ukraine are an attack on democracy – and a threat to peace around the world. Make no mistake: This is a further invasion of a sovereign state. In coordination with allies and partners, Canada is responding with a first round of economic sanctions,” Trudeau posted on Twitter after announcing sanctions in a press conference.
The sanctions have been imposed under the ‘Special Economic Measures (Russia) Regulations’ and the ‘Special Economic Measures (Ukraine) Regulations’.
These will be applicable on the Russian province of Duma, which voted for the recognition of independence of Donetsk and Luhansk.
Under these measures, a dealings ban will be imposed on those regions in Donetsk and Luhansk that are not controlled by the Ukrainian government. This means that Canadian nationals are effectively barred from indulging in specific transactions in such areas.
The curbs will prohibit direct and indirect dealings in the Russian sovereign debt.
These will impose restrictions on two Russian financial institutions to hinder Moscow’s ability to ‘further fund its aggressive actions.’