Canada 'blocks & freezes' over $310mn in Russian assets as Moscow-Kyiv war enters day 107

As all-out Russian onslaught on Ukraine entered day 107, western nations have continued to impose a barr of sanctions on Moscow to prevent Russia's furr invasion. On Thursday, Ottawa released a statement saying it has blocked over $310 million in Russian assets since war began on February 24. Canada has effectively stalled $123 million until June 7, Royal Canadian Mounted Police (RMCP) said in its statement. In addition, Canadian Foreign Ministry froze transactions worth $289 million. This comes after Ottawa, in April, said it would reform its sanctions law to allow using seized funds as reparations for war victims and to help rebuild Ukraine, CBS News reported.

Canada imposes sweeping sanctions on Russia

On June 8, Canadian Foreign Affairs Minister Melanie Joly anunced fresh sanctions under country's Special Ecomic Measures (Russia) Regulations in response to Russian President Vladimir Putin's ongoing "egregious and unjustified" invasion of Ukraine. In new pack of penalties, Ottawa imposed a ban on export of 28 services vital for operation of oil, gas and chemical industries, including technical manment,  accounting, and advertising services. ban on exploitation of oil gas and chemical services targets industry and accounts for over 50% of Russia's Federal budget revenues, Joly said, as quoted in press release. " Russian invasion of Ukraine has w lasted over 100 days. During this time, Putin and his regime have caused untold pain and suffering in Ukraine and across world. We will continue to relentlessly pursue accountability for Putin's senseless war," she added.

In May, Canada introduced measures on 22 individuals and 4 entities. Individuals and entities listed were senior officials of Russian Financial institutions, members of Russian State Duma, and ir family members, as well as key financial institutions and banks. Furr, Canada has also prohibited export and import of particular Russian goods and denied Moscow access to goods and techlogies that could benefit war in Ukraine. Since February 24, Canada has slapped over 1,070 individuals linked with Kremlin, and Belarus.

Meanwhile, European Union is set to draft tentative plans for reconstruction of strategic port city of Mariupol in Ukraine. "We must do so and we will do it because it is our moral obligation," Ursula von der Leyen said, as quoted by Ukrinform. For long, Mariupol remained a focal point of Russian attacks due to its geographical location. Mariupol provides a land link to Russian-occupied territory of Crimea from Donbass, where Russia is setting momentum for its "second phase" of invasion. 

(Im: AP)