Canada Sanctions Russian Oligarchs, Macron Threatens To Impose More On Russia’s Economy

Prime Minister Justin Trudeau said Friday that Canada would be imposing a fresh wave of sanctions on Russian oligarchs in retaliation for Russia’s war on Ukraine, AFP reported.

 

Key details

Speaking in Warsaw, Trudeau said the sanctions will be levied on Roman Abramovich, owner of Chelsea Football Club, along with four other individuals to prevent them “from dealings in Canada and their assets will be frozen.” Canada is the second country to impose sanctions on Abramovich after Thursday’s sanctions imposed by the UK.

 

The Canadian prime minister further announced sanctions on 32 entities operating in the Russian defense sector along with five current or former Russian senior officials “and associates of the regime who are complicit in President Putin’s choice to invade a peaceful and sovereign country,” including Abramovich.

 

Trudeau further unveiled $39.3 million (CAD 50 million) in humanitarian aid for Ukraine and $92 million for a Ukrainian refugees program, AFP added.

 

Macron threatens ‘massive sanctions’

Speaking after an EU summit at the Versailles Palace, French President Emmanuel Macron warned Russia of further sanctions on its economy should it pursue its invasion of Ukraine, AFP separately reported. “If things continue in the military way… we will take further sanctions, including massive sanctions,” Macron said.

 

Exports ban

The US Commerce Department’s Bureau of Industry and Security (BIS) said Friday that it would be banning the export of luxury goods, including jewelry, clothing items, and vehicles, to Russia and Belarus.

 

“Putin and the oligarchs who fund him have gotten rich off of Putin’s rampant corruption and the exploitation of the Russian people. We will not allow Putin and his cronies to continue living in opulence while causing tremendous suffering throughout Eastern Europe,” Secretary of Commerce Gina M Raimondo said.

 

Instagram banned

Russian media regulator Roskomnadzor said Friday it was imposing a ban on social media platform Instagram, citing “calls to commit violent acts against citizens of the Russian Federation, including military personnel,” AFP reported.

 

The move comes after calls from the Head of the State Duma Committee on Information Policy Alexander Khinshtein to ban the photo-sharing platform should its parent company confirm or refuse to comment on the earlier reports that it will be allowing violent speech against Russian troops, according to Russian News Agency (TASS).

 

The Russian prosecutor general’s office earlier filed a lawsuit accusing Meta of being an extremist organization, calling for a ban on its operations in Russia.

 

“Russia’s mass media watchdog has all the instruments to respond to such unlawful actions. Something tells me that all Meta services will soon be blocked in Russia,” Sergey Boyarsky, first deputy chairman of the information policy committee of the Russian State Duma, said in an interview with the Rossiya-24 television channel.