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Canada imposes first round of economic penalties against Russia

Canada's Prime Minister Justin Trudeau speaks at a news conference about the situation in Ukraine with Canada's Minister of Foreign Affairs Melanie Joly, Canada's Deputy Prime Minister and Minister of Finance Chrystia Freeland, and Canada's Defence Minister Anita Anand, in Ottawa, Ontario, Canada, February 22, 2022. REUTERS/Patrick Doyle

A day after Moscow recognised the Ukraine separatist regions of Donetsk and Luhansk as autonomous, Canadian Prime Minister Justin Trudeau announced a first round of economic measures against Russia on Tuesday.

The news: The United States, the European Union, Germany, and the United Kingdom have issued financial sanctions on Russia as they fear a new incursion, something Moscow has consistently denied for months.

  • After a pro-Moscow Ukrainian president was overthrown in Kyiv, Russian-backed separatists in Donetsk and Luhansk broke away from Ukrainian government control in 2014 and declared themselves autonomous “people’s republics”.
  • Trudeau announced that Canadians will be barred from doing business with the so-called “independent states” of Luhansk and Donetsk. He also stated that Canadians will be prohibited from purchasing Russian national debt.
  • Members of the Russian parliament who voted in favour of recognising Donetsk and Luhansk as independent would face sanctions, according to Canadian Prime Minister Justin Trudeau.
  • Canada would impose new sanctions on two Russian state-owned institutions and prohibit any financial transactions with them, according to Trudeau.
  • Trudeau also announced that he will send more troops to the region.
Canadian Prime Minister Justin Trudeau on Tuesday announced a host of sanctions against Russia, joining other G-7 nations coordinating new sanctions on Russia after Moscow recognized two regions in eastern Ukraine as independent, officials said

What Trudeau said: “So today, I am also authorizing the deployment of up to 460 members of the Canadian Armed Forces to Operation Reassurance. This involves more troops to Latvia, as well as the deployment of an additional frigate and maritime patrol aircraft,” Trudeau said.

  • Russian President Vladimir Putin has sent Russian troops into eastern Ukraine to “keep the peace,” according to Putin. “A clear incursion of Ukraine’s sovereignty,” Trudeau said.
  • “Make no mistake: this is a further invasion of a sovereign state and it is absolutely unacceptable,” he said, adding it was “not too late” for Russia to seek a diplomatic resolution.

Weeks of intense diplomacy have failed so far as Moscow demands security guarantees, including a commitment that Ukraine will never join NATO.

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