Canada targets Russian banks, defence companies and nuclear sector in latest sanctions
Canada has targeted Russian defence companies, banks and the nuclear sector in a new slew of sanctions.
The fresh action, announced 21 August, named four individuals and 29 entities, including a drone maker, several scientific research institutes and subsidiaries of Rosatom, the state nuclear energy corporation.
The sanctions were imposed under the Special Economic Measures Act Regulations because ‘the actions of the Russian Federation constitute a grave breach of international peace and security that has resulted in a serious international crisis,’ the government said.
The sanctions impose an asset freeze on designated persons and entities. They also prohibit any person in Canada and any Canadian outside Canada to engage in any transaction with a designated person or entity. Listed individuals are also barred from entering the country.
Since Russia invaded Ukraine in February last year, Canada has sanctioned thousands of people and firms accused of supporting the war.
