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Canada to produce anti-tank weapons to Ukraine, ban Russian oil imports

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Canada's Prime Minister Justin Trudeau attends a news conference with government ministers in Ottawa, Ontario, Canada February 28, 2022. REUTERS/Blair Gable

Canada’s Prime Minister Justin Trudeau attends a information convention with authorities ministers in Ottawa, Ontario, Canada February 28, 2022. REUTERS/Blair Gable

OTTAWA — Canada will provide anti-tank weapons and upgraded ammunition to Ukraine to help its battle towards a Russian invasion, Prime Minister Justin Trudeau mentioned on Monday, and it’ll ban imports of Russian crude oil.

“Canada will proceed to ship help for Ukraine’s heroic protection towards the Russian army,” Trudeau informed reporters in Ottawa. “We’re asserting our intention to ban all imports of crude oil from Russia, an trade that has benefited President Putin and his oligarchs tremendously.”

Canada has already despatched weapons and non-lethal help to Ukraine, and has backed a lot of sanctions, together with supporting the removing of Russia from the SWIFT system for worldwide financial institution funds.

“We’re offering much more deadly assist to Ukraine, and we’ll be sending 100 Carl Gustaf anti-tank weapon methods and a couple of,000 rockets, which we shall be working to ship as shortly as potential,” Protection Minister Anita Anand mentioned.

Canada imported C$289 million ($228 million) price of Russian vitality merchandise in 2021, in keeping with Statistics Canada.

Canada is the world’s fourth-largest oil producer, however the overwhelming majority comes from Alberta, removed from japanese Canadian refineries owned by Irving Oil, Suncor Power, Valero Power Corp and Cresta Fund Administration.

Japanese refiners import oil on the spot market when wanted, in addition to fuels to fulfill demand throughout upkeep shutdowns, mentioned David Schick, a vice-president with the Canadian Fuels Affiliation.

The Russian oil ban applies solely to crude oil for now, however the authorities is oil by-product merchandise subsequent, a authorities supply mentioned.

In 2021, shipments included naphtha and diesel to Valero’s Quebec refinery and deliveries of diesel and gasoline to a refinery in Newfoundland & Labrador, now owned by Cresta Fund Administration, mentioned Jim Mitchell, head of Americas Oil Analysts at Refinitiv.

Cresta is repurposing the idled Newfoundland refinery to supply renewable gas.

Irving doesn’t import Russian oil, a spokeswoman mentioned. A Suncor spokeswoman mentioned the corporate doesn’t course of Russian crude in any of its refineries. Valero and Cresta didn’t instantly reply.

Canada additionally performed a job in proscribing Russia’s central financial institution from having the ability to entry its international reserves.

Trudeau mentioned his authorities has requested the impartial Canadian Radio-television and Telecommunications regulator to drop Russian state-owned broadcaster RT, saying that “it will be significant that Canadians and folks around the globe be confronted with correct info.” Canadian cable operators mentioned on Sunday they’d voluntarily drop RT.

Earlier on Monday, Overseas Minister Melanie Joly mentioned the G7 group of countries would deliver extra sanctions towards Russia.

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