Canada imposes sanctions on 100 Russian vessels and lowers oil price ceiling

The decision is aimed at increasing economic pressure on Russia, reducing its energy revenues and narrowing its financial capabilities.

Canada has announced a new tightening of sanctions against Russia. This is stated in a statement by the Ministry of Defense of the country.

21 individuals, 53 institutions and 100 vessels that Ottawa associates with the Russian “shadow fleet” have been subject to restrictions. Canada has also lowered the price ceiling for Russian crude oil from $47.6 to $44.1 per barrel.

In particular, this concerns restrictions on the tools that Russia can use to circumvent sanctions, including crypto infrastructure, as well as measures that should complicate the development of artificial intelligence and the production of drones.

Separately, Canada announced financial support for Ukraine. Thus, 20 million Canadian dollars (approximately 15 million US dollars) will be directed to the Energy Support Fund of Ukraine. The funds will help Ukrainian energy companies procure and deliver equipment through competitive tenders to repair and restore critical energy infrastructure damaged by Russian strikes.

Australia also announced new sanctions against Russia’s “shadow fleet” the day before. At the same time, the United Kingdom imposed restrictions on one of the largest operators of the “shadow fleet.”