Canada imposes sanctions on Russian oil, gas and chemical industries

The Honourable Mélanie Joly, Minister of Foreign Affairs, today announced that Canada is imposing new sanctions under the Special Economic Measures (Russia) Regulations in response to Russian President Vladimir Putin’s ongoing egregious and unjustifiable invasion of Ukraine.

These new measures impose a ban on the export of 28 services vital for the operation of the oil, gas and chemical industries, including technical, management, accounting and advertising services. The banning of the exportation of oil, gas and chemical services targets an industry that accounts for about 50% of Russia’s federal budget revenues.

The measures announced today apply further pressure on President Putin to immediately withdraw his forces from Ukrainian soil. Canada is unwavering in the belief that Ukrainians deserve to live in peace, and it implores Russian leadership to stop its senseless war. 

These measures will reduce Russia’s ability to wage war and will send a clear message to the Russian regime: Canada will not back down in holding those responsible for the devastation in Ukraine to account. Canada will continue to work with its likeminded partners in the international community to coordinate further measures.

Tags: oil, sanctions

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