Canadian Foreign Minister Anita Anand announced further sanctions against Russia on the sidelines of the G7 summit in Paris. The measures are intended to increase the economic cost of Moscow’s war against Ukraine.
According to a statement from Canada’s Foreign Ministry, Ottawa has added 38 organizations and 24 individuals to its sanctions list, aiming to further limit Russia’s military capabilities.
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The measures focus primarily on the defense industrial base. They target actors involved in developing Russian ballistic missile technology and conducting Russia’s cyber operations.
Canada is also targeting financial intermediaries, including cryptocurrency exchanges, that support Russia’s war economy. The new sanctions are intended to raise the economic cost of the war in Ukraine.
The Foreign Ministry said Canada continues to work with its allies and partners to increase pressure on those who enable and support Russia’s war.
Canada’s sanctions list against Russia includes more than 1,600 individuals, 850 organizations and 730 vessels. The vessels are believed to be part of the shadow fleet Moscow uses to evade Western sanctions and export Russian hydrocarbons.
