Vlasiuk explains which Russian sectors are targeted by Canada’s new sanctions

A new package of Canadian sanctions targets financial institutions, crypto infrastructure, and maritime logistics that help Russia circumvent international restrictions and maintain export flows.

This was announced by Vladyslav Vlasiuk, Commissioner for Sanctions Policy, in comments to Ukrinform.

“Canada is consistently expanding pressure on the financial and logistics infrastructure that enables Russia to circumvent sanctions and maintain export flows,” he noted.

The new package targets key elements of the Russian financial system, including the Moscow Exchange, the Saint Petersburg Stock Exchange, and Absolut Bank. Particular emphasis is placed on the crypto sector and alternative payment mechanisms—including Grinex LLC, Old Vector LLC, and TengriCoin CJSC—“which are linked to facilitating cross-border payments outside the traditional banking system,” Vlasiuk explained.

According to the Commissioner, the sanctions also cover insurance and maritime service companies, including Maritime Mutual, Soglasie Insurance Company, and Nova Shipmanagement, which provide insurance and management services for vessels in the so-called shadow fleet.