Home Updates Energy Canada Announced to Ban Russian Crude Oil Imports

Canada Announced to Ban Russian Crude Oil Imports

Justin Trudeau, the Prime Minister of Canada, announced to bar importing crude oil from Russia following its invasion of Ukraine.

Canadian Prime Minister Announced to Ban Russian Crude Oil Imports

On Monday, Canadian Prime Minister Justin Trudeau announced to ban imports of Russian crude oil. Additionally, the country will supply upgraded ammo and anti-tank weapons to Ukraine to strengthen its defense against the Russian attack. He told reporters in Ottawa that Canada will continue to back the heroic defense of Ukraine against the Russian aggression.

Trudeau announced his intention to ban all crude oil imports from Moscow because the oil industry significantly benefited Putin and Russian oligarchs. Previously, Canada sent non-lethal and weaponry support to Ukraine and assisted several sanctions, including backing the removal of Russia from the Society for Worldwide Interbank Financial Telecommunication (SWIFT) system for international bank payments.

Anita Anand, the Defense Minister of Canada, said that the Canadian government would deliver more lethal aid for Ukrainian and planned to send hundred Carl Gustaf anti-tank weapons systems and two thousand rockets. According to Statistics Canada, the country imported $228 million worth of Russian energy products last year.

Canada is the 4th largest oil producer globally, but the majority of the oil comes from Alberta, far off from the eastern refineries of Canada. A vice-president with the Canadian Fuels Association, David Schick, said that country’s eastern refinery companies import crude oil on the spot market when needed, along with fuels to meet oil demand during regular maintenance closures.

Canada to Drop Russian state-owned Broadcast RT

Canadian prime minister said his administration asked independent Canadian Radio-TV and Telecommunications regulator to stop broadcasting Russian state-owned broadcast RT. He argued that it is essential that Canadians and worldwide receive accurate information about the Russia-Ukraine war. In the same way, Canada played a crucial role in restricting the Russian central bank from accessing its foreign reserves. West also slap severe sanctions on Russia and its officials over its invasion of Ukraine.

Canada Announced to Ban Russian Crude Oil Imports
Canada Announced to Ban Russian Crude Oil Imports
Source: Web

A government source said that the Oil ban from Russian applies only to crude oil now, but the Canadian administration is looking at oil derivative products in the next phase. Head of Americas Oil Analysts at Refinitiv, Jim Mitchell, said that last year, shipments included diesel and naphtha to the Quebec refinery of Valero and supplies of gasoline and diesel to a refinery in Newfoundland and Labrador.

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