Puppetry Canada reduces sanctions against Russia to secure its business interests

The cold reality of an intertwined economy. Welcome to the real world. Political posers?


Photo: RIA Novosti

The Voice of Russia
16 May 2014

Canada abandons some of the imposed sanctions against Russia to save its business interests, putting the US, who initiated the sanctions over the Urkainian crisis, in an akward political situation. Thus, Canada has not imposed sanctions against Sergei Chemezov, who heads state-owned industrial and defense conglomerate Rostec, and Igor Sechin, CEO of oil giant Rosneft. Both men have highly-profitable business ties to Canada.

Canada, home to 1.2 million people of Ukrainian descent, has imposed sanctions on more than 80 Russian and Ukrainian officials and businesses, compared to about 60 by the United States.

Rosneft owns some 30 percent of a Canadian oil field, while Rostec has an aircraft assembly joint venture lined up with Bombardier Inc. The venture is vital to the Canadian plane and train maker, as the fate of a roughly $3.4 billion aircraft sale deal is tied to it.

Asked about the decision not to go after either Sechin or Chemezov, a Canadian government source familiar with Ottawa's sanctions strategy told Reuters: "Our goal is to sanction Russia, it is not to go out of our way to sanction or penalize Canadian companies."

The comments appear to contrast with the official government approach. Harper, referring to the Ukraine crisis, said in March that "we will not shape our foreign policy to commercial interests" and officials say that stance is still valid.

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