Canada's Prime Minister Justin Trudeau outlined the country's "first round" of economic penalties against Russia in response to Russia's recognition of the independence of two non-government-controlled regions of Eastern Ukraine and the deployment of troops there.
Trudeau also said Tuesday that Canada will send up to 460 additional personnel of the Canadian Armed Forces to Latvia and the surrounding region to support NATO in the face of an Russian aggression.
"I am authorized the deployment of up to 460 Canadian Armed Forces personnel to Operation Reassurance. This will entail the deployment of extra troops to Latvia, as well as the addition of a frigate and maritime patrol aircraft," he stated.
The United States, the European Union, Germany, and the United Kingdom also detailed how they will financially punish Russia in the event of another incursion, which Moscow has persistently denied for months.
Trudeau announced that the government is prohibiting Canadians from conducting financial transactions with the "so-called independent states" of Donetsk and Luhansk and will penalise members of Russia's parliament who have voted in support of proclaiming the areas independent.
Trudeau stated that the first set of economic measures will prohibit Canadians from conducting financial transactions with the two recognized Ukrainian separatist regions of Donetsk and Luhansk.
Canadians will also be barred from purchasing Russian sovereign debt, Trudeau said.
After a pro-Moscow Ukrainian president was deposed in Kyiv in 2014, the Russian-backed separatists in Donetsk and Luhansk declared themselves autonomous "people's republics."
Canada would impose new restrictions on two Russian state-owned institutions and prohibit financial transactions with them, Trudeau said.
Russian President Vladimir Putin has sent Russian troops into eastern Ukraine, claiming they are there to "maintain the peace." Trudeau described the move as a "unmistakable infringement on Ukraine's sovereignty."
"Make no mistake: this is another invasion of a sovereign state, and it is completely unacceptable," he said, adding that Russia might still seek a diplomatic settlement "at any time."
Weeks of frantic talks have thus far failed to secure security guarantees, including a guarantee that neighboring Ukraine will never join NATO.
Boris Johnson, the British Prime Minister, announced penalties against five Russian banks and three wealthy individuals with close ties to Putin.
Canadian Foreign Minister Melanie Joly also said that Russia's invasion of Ukraine "has begun," adding that that its actions represent a "direct threat" to the peace and security of Ukraine and the world.
