Canada announces new sanctions targeting Russian military and financial networks

Canada is imposing additional sanctions on Russia, targeting individuals and organizations linked to its military industry, missile development and financial networks supporting the country's war against Ukraine.

Foreign Affairs Minister Anita Anand announced the measures on November 9 while attending the G7 Foreign Ministers’ Meeting in Paris, France.

Under the Special Economic Measures (Russia) Regulations, Canada is adding 38 entities and 24 individuals to its sanctions list.

The new measures target parts of Russia's defence industrial base, including individuals and organizations involved in developing ballistic missile technology and supporting Russian cyber activities.

Canada is also targeting financial networks that help sustain Russia's wartime economy, including cryptocurrency exchanges and other financial enablers accused of helping Russia evade international sanctions.

In its announcement, Global Affairs Canada said the measures are intended to restrict Russia's ability to conduct military operations and reduce its capacity to strike civilian targets in Ukraine.

Canada says Russia continues to rely on networks designed to bypass international sanctions to maintain its military operations.

“Canada is taking action to undermine Putin’s capacity to strike Ukrainian cities with its missiles,” Anand said.

“We remain steadfast in our support for Ukraine and will continue to impose costs on Russia until it ends its aggression and respects Ukraine’s sovereignty and territorial integrity.”

Canada says it will continue working with its G7 allies and other international partners to increase pressure on those supporting Russia's military operations.

The federal government also reiterated its commitment to supporting Ukraine and pursuing a lasting peace consistent with the principles of the United Nations Charter.