War in Ukraine: Canada sanctions Putin's relatives and other Russian banks

Steph Deschamps / June 1, 2022

Canada targeted Tuesday 21 Russians, close to Vladimir Putin, and four financial and banking institutions, in a new wave of sanctions in retaliation for the invasion of Ukraine.
  
We are targeting banks and oligarchs in the entourage of the Putin regime, as well as what I would call his partner, Canadian Foreign Minister Melanie Joly told reporters in Ottawa.
 
Among the people targeted by these new sanctions is Alina Kabaeva, a former Russian Olympic gymnast who, according to some media and opponents, has a relationship with President Vladimir Putin, which he denied in 2008.
 
According to a recent Wall Street Journal article, citing U.S. officials, Alina Kabaeva is described by a confidential U.S. intelligence report as a recipient of Vladimir Putin's fortune.
 
She is the chairwoman of the board of directors of the National Media Group (NMG), a holding company with significant shares in almost all major Russian federal media that reproduce Russian government propaganda, according to the European External Action Service.
 
Canada has also added the Russian Agricultural Bank to the list, as well as Investtradebank and two fund management companies. Their assets are frozen and their executives are prohibited from entering Canada.
 
Melanie Joly said the sanctions were aimed at stifling the Putin regime, and she praised the European Union for banning most Russian oil imports into its territory by the end of the year on Monday to dry up funding for Moscow's war in Ukraine.
 
Since the Russian invasion of Ukraine on February 24, Canada has imposed sanctions on over 1,050 individuals and entities in Russia, Ukraine and Belarus.

 

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