Canada bans trade in luxury goods with Russia and punishes more oligarchs

Ukraine War: Canada also announced sanctions against Russian oligarchs and their relatives.

Ottawa:

Canada on Friday announced a ban on trade in luxury goods with Russia and added 14 more Russian oligarchs and other associates of President Vladimir Putin to its list of sanctions imposed over the invasion of Ukraine.

The ban aligns with similar measures imposed by allies such as the United States and the European Union, and “will help mitigate the potential for Russian oligarchs to circumvent restrictions in other markets for luxury goods,” the government said.

Covers Canadian exports of alcoholic beverages, tobacco, some textiles and sportswear, footwear, luxury clothing and accessories, jewelry, cookware, and art, as well as Russian imports of alcoholic beverages, seafood, fish, and diamonds.

These accounted for goods worth C$76 million (US$59 million) in 2021, according to trade figures.

The government also announced sanctions against Russian oligarchs and their relatives and close associates of Putin, and restrictions on exports to Russia of “goods that could be used in the production and manufacture of weapons.”

Canada has imposed sanctions on more than 1,000 individuals and entities from Russia, Belarus and Ukraine since Moscow’s invasion of Ukraine began on February 24.

(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)

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