New Canadian sanctions against Russia are unlikely to be effective. On June 29, Ottawa expanded the sanctions list against Russia. Canadian sanctions were imposed on the Eurasian Youth Union and several members of this organization. The list continues with several Russian companies, such as Gazprom, Gazprom Neft, Surgutneftegaz and Transneft. However, Sberbank analyst Valery Nesterov said that Russia did not have large assets in Canada. The sanctions will affect Gazprom's securities, though. Yet, Europe and the United States are not going to give up the benefits that they receive from the Russian company.
The sanctions will not affect the activities of Russian defense companies either, such "Tula Arms Factory" and "United Aircraft Corporation". Chief editor of "National Defense" magazine Igor Korotchenko said that the actions of the monarchy came as a "political action" that had little to do with practical activities of the companies.
Stephen Harper, the Canadian Prime Minister said in a statement that the sanctions against Russia were related to the ongoing crisis in Ukraine.
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