Canada imposes sanctions on Russian oligarch Roman Abramovich

Canada has announced another round of sanctions against Russia, including notorious oligarch Roman Abramovich.

In total, the top five business leaders were added Friday to their list of those deemed to have enabled President Vladimir Putin in his war against Ukraine.

The federal government also sanctioned 32 organizations and companies linked to Russia’s military and security services, including the country’s foreign intelligence services.

Prime Minister Justin Trudeau, who announced the new penalties on the final day of his trip to Europe, said Russia’s elite would be barred from doing business in Canada and their assets would be frozen.

Abramovich, owner of Chelsea Football Club in England, also holds a 28 percent stake in Evraz, a steel company with operations in Western Canada.

Trudeau said the federal government was aware of the potential impact, but remained confident there would be no impact on the 1,700 people who work for Evraz in Regina.

“Sanctions against Russian officials and oligarchs like Abramovich are directed at them so they can’t take advantage or benefit from economic activity in Canada – or the hard work of Canadians working in the companies they invest in,” Trudeau said in Warsaw, before boarding the plane. flight home.

“We will obviously be watching carefully, but we believe this will have no impact on the hardworking Canadians doing a great job at companies across the country.”

Last week, Deputy Prime Minister Chrystia Freeland said part of the discussion around the sanctions had involved whether there would be so-called collateral damage to Canada’s economy and workers.

Abramovich has direct ties to Putin, according to the US Treasury.

PM says sanctions will have an impact

Britain announced sanctions against him on Thursday, saying “Abramovich is or has been involved in destabilizing Ukraine and undermining and threatening the territorial integrity, sovereignty and independence of Ukraine, through Evraz PLC.”

Prime Minister Boris Johnson recently said “there is no safe haven” for those who have supported the invasion of Ukraine.

VIEW | British sanctions hit Russian billionaire owner of football club Chelsea:

England sanctions hit Russian billionaire owner of football club Chelsea

Britain imposed new sanctions on several Russian oligarchs on Thursday, including an asset freeze and a travel ban for Chelsea football club owner Roman Abramovich. Sanctions could have a huge impact on the future of the football club, stopping Abramovich’s attempts to sell him. 2:02

Britain said Abramovich exercised effective control over the company.

However, Evraz issued a statement saying he did not consider Abramovich to have effective control of the company, due to his status as a minority shareholder, with him not having the right to appoint or remove a majority of the board members and his incompetence. to ensure the company acts “as it wishes.”

The company also said 10 of its board members had quit following the announcement of the UK sanctions.

Trudeau continues to insist, as he has throughout his journey, that sanctions have a meaningful effect on Russia’s ability to fight a war in Ukraine.

“We have seen the collapse of the Russian economy, the collapse of the ruble, the constant closing of Russian stock exchanges,” he said.

“We have seen a serious impact, yes, on the Russian people, but we have also seen a serious impact on those who have made it possible and encouraged Vladimir Putin over the last few years.”

He said the West would continue to press “for as long as it takes.”

Jackson Wintringham

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