Canada imposes new sanctions on Russian oil and gas sector and chemical industry – Al-Manar TV Lebanon
The Government of Canada has imposed a new round of sanctions against the Russian oil and gas sector and chemical industry, according to the Canadian Foreign Ministry website.
“On July 14, 2022, Canada again amended the Special Economic Measures (Russia) Regulations to prohibit the provision of 2 manufacturing services to the Russian oil, gas, chemical and manufacturing industries,” reads the document, adding that Canada was targeting the manufacturing sector. adding 8 new industries to the list.
According to the document, Canadian citizens and businesses are prohibited from providing a number of services to the Russian side, including services incidental to the manufacture 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 that the sanctions were counterproductive and would also have negative effects for Canada.
“We believe that a new round of sanctions is completely unfounded and counterproductive. As we have warned repeatedly, all economic sanctions are a double-edged sword and will certainly boomerang Canada,” said the diplomat.
Canadian Foreign Minister Mélanie Joly announced the measures on Saturday. She said once the measures are in place, Canadian companies will have 60 days to enter into 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 Donbas 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 phasing in sweeping sanctions against Moscow and supplying Kyiv with weapons and military equipment worth billions of dollars.