Stephen Harper Prime Minister of Canada talks at a news conference
IN PHOTO: Stephen Harper Prime Minister of Canada talks at a news conference with Prime Minister of New Zealand John Key after bilateral talks in Auckland, November 14, 2014. Reuters/Stringer

Canada on Friday announced more sanctions against Russia, specifically targeting its oil exploration sector. Canada's new curbs come as amendments to the Special Economic Measures (Russia) Regulations and impose product-specific restrictions pertaining to the supply of certain goods to Russia's oil sector, mainly in respect of deepwater, Arctic and shale exploration and production.

Ukraine Issue

Announcing the sanctions, on behalf of the Prime Minister, Foreign affairs minister John Baird reiterated Canada's stand that it will not accept Russia's occupation of Crimea saying: "Since the onset of the conflict, the Putin regime has continuously violated the territorial integrity, sovereignty and independence of Ukraine", reported Global News. Harper also announced fresh curbs on 20 Russian and pro-Russia Ukrainians.

The new curbs will apply to any person or entity in Canada or Canadian person or entity outside of Canada. The amendments mark the first product-specific restrictions under Canada's Russia sanctions regime and are similar to prohibitions imposed by the United States and the European Union.

This implies goods listed on the new Schedule 4 to the regulations cannot be exported, sold, or shipped to Russia by any person in Russia, nor can any financial, technical, or other services related to the goods be supplied, if the goods are to be used in any of the following applications:

  • Offshore oil exploration
  • Production at a depth of greater than 500 metres
  • Oil exploration or production in the Arctic
  • Shale oil exploration or production

As a result, the embargo will be binding on a range of oil industry products such as pipes, pumps, drills, boring tools, machinery, components and technology. The comprehensive list of prohibited items has been updated on the website of Department of Foreign Affairs, Trade and Development website, according to news site Bennettjones.com.

Russia Plays Down

Meanwhile, Russia played down the new sanctions with President Putin asserting at a Kremlin ceremony that "no one can intimidate or isolate Russia. No one has ever been able to and no one ever will." Crimea's Moscow-backed leader Sergei Aksyonov also said the European Union led sanctions are another effort to gag Russia. The AFP reported the reaction of Russian foreign ministry, which said the thirteenth round of Western sanctions is a dangerous step. "But that will only harden the guerrillas' resolve and we advise Washington and Ottawa to think about the consequences of such actions," the statement from the Russian ministry said.