Prime Minister Justin Trudeau unveiled Canada鈥檚 鈥渇irst round鈥� of economic sanctions against Russia for its recognition of independence of two non-government controlled Eastern Ukraine regions and the ordering of troops there.
Trudeau said the government is banning Canadians from all financial dealings with the 鈥渟o-called independent states鈥� of Donetsk and Luhansk and will sanction members of the Russian parliament who voted in favour of declaring the regions as independent.
The government has also approved a deployment of up to 460 Canadian Armed Forces troops to Latvia as part of Operation REASSURANCE to 鈥渞einforce鈥� Canada鈥檚 commitment to NATO.
鈥淭his recognition is a violation of Russia鈥檚 obligation under international law and the Charter of the United Nations. Canada also denounces Russian military actions, including orders to move into Ukraine which is a clear incursion of Ukraine鈥檚 sovereignty and territorial integrity,鈥� Trudeau said.
鈥淢ake no mistake, this is a further invasion of a sovereign state and it is completely unacceptable.鈥�
On Monday, Russian President Vladimir Putin signed decrees ordering troops into the newly recognized regions under the premise of 鈥減eacekeeping鈥�.
Russian lawmakers and members of the Federation Council also gave Putin permission to use military force outside of the country in a unanimous vote Tuesday, formalizing a military deployment.
These moves have prompted world leaders to announce a swath of sanctions against Russia.
British Prime Minister Boris Johnson announced sanctions on five Russian banks as well as three wealthy individuals with close ties to Putin.
Meanwhile Germany said it would freeze the certification of the Nord Stream 2 Baltic Sea gas pipeline project that was designed to double the flow of Russian gas direct to Germany.
U.S. President Joe Biden said the White House will target two financial institutions, VEB 鈥� Russia鈥檚 state development corporation 鈥� and its military bank, as well as Russian sovereign debt.
鈥淭hat means we鈥檝e cut of Russia鈥檚 government from Western financing. It can no longer raise money from the West and cannot trade its new debt on our markets or European markets either,鈥� he said.
Sanctions against Russia鈥檚 鈥渆lites and their family members鈥� will be announced Wednesday.
The Canadian government will also ban Canadians from purchasing Russian sovereign debt and will impose sanctions on two state-backed Russian banks.
These measures will remain in place until the 鈥渢erritorial integrity鈥� of Ukraine is restored, the prime minister said.
鈥淚t is not too late for Russia to seek a diplomatic resolution and re-establish a pathway to peace. But it is also clear that Russian actions violate international law and threaten international peace and security,鈥� he said.
For weeks the world has braced for an imminent Russian attack in Ukraine as Putin gradually amassed approximately 150,000 soldiers along various sections of the border.
The Canadian government has been steadfast in its support of Ukraine, sending military equipment, providing loans to mitigate financial unsteadiness amid the tensions, and deploying more troops under Operation UNIFIER to train Ukrainian armed forces and the national guard.
Defence Minister Anita Anand confirmed on Tuesday that a second shipment of lethal aid has been sent.
Meanwhile, Foreign Affairs Minister Melanie Joly said that should Russia escalate their tactics, Canada will be prepared to retaliate.
鈥淲e are prepared to target even more of Russia鈥檚 financial sector and oligarchy and we鈥檙e ready to make significant announcements related to Canadian exports to Russia,鈥� she said during the press conference.
MEASURES MAY NOT BE ENOUGH TO INFLUENCE PUTIN
Former Canadian Ambassador to Ukraine Roman Waschuk weighed in on the news, telling 麻豆影视 Channel鈥檚 Power Play that while Canada鈥檚 announcement is respectable and aligns well with its allies, it may not be enough to deter Putin from further advancement.
鈥淚 think there鈥檚 hope that they might cool President Putin鈥檚 ardour but he seems so kind of messianically driven by a kind of imperial restoration idea that I鈥檓 not sure this first tranche will do the trick,鈥� he said.
Former NATO commander David Fraser added that while the troop deployment addition is 鈥渢hankful,鈥� it鈥檚 unlikely to be impactful amid this specific escalating conflict.
鈥淚 think it鈥檚 more tokenism than anything else because it鈥檚 going to arrive too late鈥e鈥檝e been watching this for years and we鈥檝e come to this conflict too little too late,鈥� he said.
With a file from 麻豆影视鈥� Christy Somos.
