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Canada names reason for liftng sanctions from two Russian banks

September 19, 2014, 10:29 UTC+3 OTTAWA
Canadian government decided to lift sanctions from Russian banks Expobank and Rosenergobank over their non-involvement in the crisis in Ukraine
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© ITAR-TASS/Alexei Filippov

OTTAWA, September 19. /ITAR-TASS/. Canadian government decided to lift sanctions from Russian banks Expobank and Rosenergobank over their non-involvement in the crisis in Ukraine, spokesperson of Canadian Department of Foreign Affairs Beatrice Fenelon told ITAR-TASS on Thursday.

After new information was received and studied Canadian government decided that Expobank and Rosenergobank stayed aside quite far from events in Ukraine and therefore were dropped from the sanction list, the ministry’s spokesperson said. Meanwhile, Fenelon noted that Russian public savings bank Sberbank was also put on the penalty list, because Canadian government believed that this lending organisation was involved in Ukrainian crisis.

Fenelon noted that under the law sanctions were imposed on individuals and legal entities which were implicated in the crisis in Ukraine and aimed at political and economic isolation of Russia.

Canada's sanctions against Russia

The sanctions list also included the Mytishchi Machine-Building Plant, the Kalinin Machine-Building Plant /military hardware manufacturers/, the Tikhomirov Scientific Research Institute of Instrument Design /developer of weaponry control systems/, the Dolgoprudny Research Production Enterprise /air defense system manufacturer/ and the Altair Marine Scientific Research Institute of Radioelectronics /missile system and radar developer/.

Several Russian individuals are banned from entering Canada and their assets will be frozen if found in the country. Russian Deputy Defence Ministers Army General Dmitry Bulgakov and Colonel-General Yury Sadovenko, first deputy chief of the Russian Armed Forces General Staff, Central Military District Troops Commander Colonel-General Nikolai Bogdanovsky and Russian Ground Forces Commander Colonel-General Oleg Salyukov are on the sanction list.

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