Earlier today, Canada’s Minister of Finance Chrystia Freeland announced that all Canadian financial institutions are not allowed to make any type of transaction or interact in any way with Russia.
The reason for this act is because Russia provoked a war between themselves and the Ukraine.
In addition to the transaction ban, Canada is also going to put forth an asset freeze and dealings prohibition on all Russian sovereign wealth funds.
The main goal of these financial actions is to prevent Russia from accessing their international currency reserves and therefore, making it as difficult as possible for them to finance their invasion of Ukraine.
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