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Canada Hits Russia With New Sanctions Targeting 62 Individuals and Entities Linked to Missiles and War Industry
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Canada has announced a new round of sanctions against Russia, targeting 38 entities and 24 individuals involved in the country’s defense industry, ballistic missile development, cyber activities, and financial networks supporting Moscow’s war against Ukraine.
Canadian Foreign Minister Anita Anand announced the measures on the sidelines of the G7 Foreign Ministers’ Meeting in Paris, France, according to a statement published on the Canadian government's official website on November 9.
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The additional restrictions, introduced under Canada’s Special Economic Measures (Russia) Regulations, are intended to weaken Russia’s military capabilities by targeting key elements of its defense industrial base, particularly individuals and organizations involved in developing ballistic missile technologies.
The sanctions also extend to actors associated with Russia’s cyber operations and financial networks, including cryptocurrency exchanges that facilitate economic activities supporting Moscow’s military operations.
According to the Canadian government, the measures are designed to increase the economic pressure on Russia while restricting its access to resources and technologies needed to sustain its war against Ukraine.
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Ottawa emphasized that Russia continues to rely on sanctions-evasion networks to maintain its military operations despite existing international restrictions.
“Canada is taking action to undermine Putin’s capacity to strike Ukrainian cities with its missiles. 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,” Anand said.
Canada also reiterated its support for Ukraine’s sovereignty and territorial integrity, emphasizing the importance of achieving a just and lasting peace consistent with the principles of the United Nations Charter.
The latest restrictions expand Canada's existing sanctions regime against Russia, which has been in place since Moscow's initial aggression against Ukraine in 2014.
According to the Canadian government, Ottawa has sanctioned more than 3,500 individuals and entities, along with over 700 vessels, in connection with violations of Ukraine’s sovereignty and territorial integrity and gross and systematic human rights violations.
The announcement comes as Russia continues exploring ways to expand its industrial presence abroad amid mounting international economic restrictions.
On October 29, Russian leader Vladimir Putin announced that Moscow was prepared to relocate some of its industrial facilities to Africa, citing the impact of sanctions on Russian businesses, The Moscow Times reported.
“This fully corresponds to Russia's interests, especially today, when numerous sanctions are being applied to the Russian economy and Russian enterprises,” Putin said at the Russia-Africa forum.
He also described the investment potential of Russian companies as “fairly high,” while acknowledging that “there is work to be done here.”
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