Canadian banks Russian Central Bank Ukraine invasion war

Canadian banks now prohibited from dealings with the Russian Central Bank

An unprecedented move by Canada and its G7 partners to defund Vladimir Putin’s “war of choice” in Ukraine.

Prime Minister Justin Trudeau has just announced that Canadian banks and other financial institutions in this country are now prohibited from all transactions with the Russian Central Bank in order to restrict Vladimir Putin’s “war of choice” in Ukraine. Finance Minister Chrystia Freeland calls this is an unprecedented move by Canada and its G7 partners to bring about the “strategic failure” of Russia’s invasion of Ukraine.

“Canada and its allies continue to take concerted action to ensure that Russia’s invasion of Ukraine will be a strategic failure. This has never been done before at this scale — today we are taking a historic step by directly censuring Russia’s central bank.

“Canada is firmly on the side of the heroic resistance of the people of Ukraine and we will continue to take further action to ensure President Putin does not succeed.”

—Chrystia Freeland

Canadian banks now prohibited from dealings with the Russian Central Bank

To read the full statement, please click here.


For the latest in news, please visit the News section.