Despite all the news coverage on Russian oligarchs and their activities in Russia, most people are unaware of their counterparts here in Canada. This is surprising, given that there are more than a few Russian oligarchs living in our midst.
In this article, we will take a closer look at Russian oligarchs in Canada and try to answer some of the most common questions people have about them.
Russian Oligarchs Canada
The ongoing atrocious and unjustified invasion of Ukraine by Russian President Vladimir Putin prompted Canada to impose fresh sanctions under the Special Economic Measures (Russia) Regulations, the Honourable Mélanie Joly, Minister of Foreign Affairs, announced today.
With these new regulations, 14 people including Russian oligarchs, members of their families, and close aides to the Putin regime will be subject to limitations.
The misery and suffering of the Ukrainian people are directly attributable to these people, who have actively supported Vladimir Putin’s stupid war in that country.
A prohibition on the import of specific luxury items from Russia is also included in today’s notice, in addition to a ban on the export of certain luxury goods to Russia.
The export of certain luxury goods to Russia is currently prohibited by the Canadian government.
These products include tobacco, alcoholic beverages, some textiles and sportswear, accessories, upscale clothing, footwear, jewelry, works of art, and kitchenware.
Aside from targeting luxury products including alcoholic beverages, seafood, fish, and non-industrial diamonds, Canada has also banned their import from Russia. In 2021, these categories’ combined product value was $75.7 million.
Quotes
“The Putin dictatorship will be held accountable for its outrageous actions. Canada and its allies will exert constant pressure on the Russian state up until the point where it is unable to launch a war. We will always stand behind Ukraine and its citizens”.
Facts
- Canada has placed sanctions on more than 1,450 people and businesses since Russia’s illegitimate occupation and attempted annexation of Crimea in 2014. These sanctions have been implemented in many cases with the cooperation of Canada’s allies and partners. The most recent penalties from Canada place asset freezes and bans on those who are named as targets.
- Canada has placed sanctions on more than 1,000 people and organizations from Russia, Ukraine, and Belarus since Russia’s further invasion of Ukraine on February 24, 2022.
- Together with other ICC members, Canada referred the situation in Ukraine to the court in March 2022 due to the numerous claims that Russian forces there had perpetrated grave international crimes, such as war crimes and crimes against humanity.
What Continues To Be Imported By Canada From Russia?
Crude oil, fertilizers, and a variety of metals and minerals are Canada’s primary imports from Russia.
Commercial aircraft and industrial machinery are Canada’s major exports to Russia. The volume of trade with Russia is too little to have a significant impact on the overall situation.
Canada Purchases Potash From Russia?
Both nations are among the top producers of uranium, crude oil, nickel, and potash in the world.
They are among the biggest exporters of wheat in the world, together with Ukraine.
As a result of the conflict and international sanctions on Russia, buyers are turning to Canada to replace the food, oil, and minerals that are being banned.
Does Canada Have Sanctions On Russia?
On March 23, 2022, Canada made additional changes to the Special Economic Measures (Russia) Regulations to include 160 members of the Russian Federation Council, who are now covered by a comprehensive transactions ban.
Canada has now imposed sanctions on all of the Russian Federation Council’s members using these names.
Russia Buys What From Canada?
Canada-Russia Canada exported $515 million to Russia in 2020. Planes, soil preparation equipment, helicopters, and/or spacecraft, and animal feed made up the bulk of Canada’s exports to Russia, each worth $37.5 million.
The Special Economic Measures Act Of Canada Is What
This Act’s goal is to give the government of Canada the ability to impose financial sanctions on specific individuals in cases where a serious breach of international peace and security occurs and a group of states, associations, or international organizations, of which Canada is a member, urges its members to take such action.
Does Canada Buy Oil From Russia?
The Canada Energy Regulator reports that since 2019, Canada has not imported any crude oil from Russia.
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