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Canada Imposes New Sanctions On Russia’s Oil And Gas Sector, Chemical Industry

  • Minister Counselor at the Russian Embassy in Canada Vladimir Proskuryakov told TASS the sanctions were counter-productive and would entail negative effects for Canada as well

The government of Canada imposed another round of sanctions against Russia’s oil and gas sector and chemical industry, according to the Canadian foreign ministry’s website.

“On July 14, 2022, Canada further amended the Special Economic Measures (Russia) Regulations to prohibit the provision of 2 manufacturing services to the Russian oil, gas, chemical and manufacturing industries,” the document says, adding that Canada targeted the manufacturing sector by adding 8 new industries to the list.

According to the document, Canadian citizens and companies are prohibited from providing a number of services to the Russian side, including services incidental to manufacturing of fabricated metal products; motor vehicles, trailers and semi-trailers; computer, electronic and optical products; electrical equipment and other sectors.

Minister Counselor at the Russian Embassy in Canada Vladimir Proskuryakov told TASS the sanctions were counter-productive and would entail negative effects for Canada as well.

“We believe that a yet another round of sanctions is totally groundless and counter-productive. As we have repeatedly warned, all economic sanctions are a double-edged sword and will certainly boomerang on Canada,” the diplomat said.

Canadian Foreign Minister Melanie Joly announced those measures on Saturday. She said that once the measures are in effect, Canadian businesses will have 60 days to conclude contracts with targeted industries and services.

On February 24, Russian President Vladimir Putin launched a special military operation following a request for help from the leaders of the Donbass republics.

He stressed that Moscow’s plans did not include an occupation of Ukrainian territories, its goals being the demilitarization and denazification of the country. In response, the West began to gradually introduce sweeping sanctions against Moscow and to supply weapons and military equipment to Kiev estimated at billions of dollars.

TASS

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