Canada joins US in beating Russia with economic sanctions

Jakarta, CNN Indonesia

Canada in the footsteps of the United StatesWE) to beat Russia with economic blockade sanctions.

Like the United States, Canadian Prime Minister Justin Trudeau called economic sanctions an early stage amid news of Russia’s invasion of Ukraine.

Previously, Russia sent troops and their tanks to eastern Ukraine. The move came after Russian President Vladimir Putin announced his support for the independence of Donetsk and Luhansk.

Citing Reuters, Trudeau said he would ban its citizens from conducting financial transactions with residents of Donetsk and Luhansk who have declared separation from Ukraine. Canada also prohibits its citizens from getting involved in buying Russian state debt.

Canada will also impose economic sanctions on Russian lawmakers who support their country’s aggression against Ukraine.

The sanctions were also accompanied by a blockade of two Russian banks that could provide financial support to the country.

Previously, the United States froze the assets of two Russian banks, namely Vnesheconombank (VEB) and state-owned bank Promsvyazbank (PSB). Likewise, other financial institutions that support Russia cannot be separated from these sanctions.

The US Treasury says the two Russian banks have assets of around billions of US dollars.

Sanctions will also be imposed on a number of Russian elites by freezing their US assets. They will be prohibited from using the American banking system.


[Gambas:Video CNN]

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