Canada introduces new sanctions against Russian oil and gas industry

Canada introduces new sanctions against Russian oil and gas industry

Canadian authorities introduced restrictive measures against Russian oil, gas and chemical industries and other sectors of the economy, according to the document posted on the website of Global Affairs Canada.

"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," as stated in the news release.

Canada is introducing economic sanctions against Russia due to the situation in Ukraine since late February.

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