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Canada lifts sanctions on two Russian banks

10:37 19/09/2014

MOSCOW, September 19 (RAPSI) – Canada has cancelled sanctions against two small Russian banks, Expobank and Rosenergobank, the Canadian Foreign Affairs Department said on its website Thursday.

Expobank and Rosenergobank were added to Canada’s sanctions list in April.

Earlier, Canada announced the addition of new companies and individuals to its sanctions list, notably Russia’s largest state savings bank, Sberbank, five defense companies and four individuals. Canadian companies and private individuals are prohibited from lending funds to them for more than 30 days.

The United States and the EU have imposed a number of sanctions against Russian companies, banks and individual sectors.

On September 12, the EU approved sanctions that aim to limit the Russian oil and defense companies’ access to the European capital market. The companies include Oboronprom, United Aircraft Corporation, the Kalashnikov Concern, Uralvagonzavod, Rosneft, Transneft and Gazprom Neft.

Private and corporate EU investors may not issue loans to these companies, or to Sberbank, VTB, Gazprombank, Russian Agricultural Bank and VEV, for longer than 30 days or to trade in these companies’ new securities, shares and other financial instruments with a maturity of more than 30 days.

In August, Russia suspended food imports from the EU, the United States, Canada, Australia and Norway for one year in response to their sanctions.

The ban includes beef, pork, poultry, fruit, vegetables, cheese, dairy, nuts and other products.

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Canada lifts sanctions on two Russian banks

10:37 19/09/2014 Canada has cancelled sanctions against two small Russian banks, Expobank and Rosenergobank, the Canadian Foreign Affairs Department said on its website.
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