Canada closes ports for Russian ships

Canada Closes Ports for Russian Ships

Canada has revealed a slew of measures to isolate Russia. These include sanctions on Russian President Vladimir Putin, shutting Canadian airspace to Russian planes, prohibiting oil imports, and banning Canadian financial institutions from dealing with the Russian central bank, working in tandem with other Western countries.

Moreover, Ottawa raised its crude oil import ban to include refined petroleum products and different petroleum products from Russia. Its natural resources minister tweeted on Tuesday night.

Earlier, Transport Minister Omar Alghabra stated that while the number of Russian ships entering Canadian waters and ports is “small,” there will still be an influence, particularly with other countries doing the same.

A port spokesperson said that Russia depicts less than 2% of Port of Montreal’s annual containerized volumes. Hence, the ban will have a limited commercial effect.

Port of Vancouver, Canada’s most active, expressed the number of Russian-flagged vessels, minimal calling it. In the past, those have traded in crude oil, canola oil, and copper concentrates, a spokesperson stated.

Canada Stands with Ukraine

Canada is tracking three Russian-flagged vessels off the East Coast. One of which is a cargo vessel, a government official, informed Reuters.

On Tuesday, Canada monitors all Russian oligarchs’ holdings and Russian companies, Finance Minister Chrystia Freeland informed reporters. She added that they are studying them, and everything is on the table.

Furthermore, Canada is sending 1,600 bulletproof vests and nearly 400,000 meal rations to Ukraine.

Canada imported C$2.14 billion ($1.68 billion) worth of goods from Russia in 2021, Statistics Canada data indicated, with metals and minerals among the most valuable categories. As stated by the agency, it imported C$289 million worth of Russian energy products last year.

Read also: CryptoGo365 review | Is CryptoGo365 a good broker?

User Review
0 (0 votes)


Leave a Reply


Share this on

Share on facebook
Share on twitter
Share on linkedin

Rec­om­mended for You

Subscribe to Our Newsletters

Have The Best Of Trade Market News Delivered Directly To Your
Mailbox. Subscribe To Receive The Latest Market News.