July 24, 2014 / 8:49 PM / 4 years ago

Canada to impose sanctions on range of Russian firms and banks

OTTAWA, July 24 (Reuters) - Canada said on Thursday it would impose sanctions on a range of Russian firms and banks to punish Moscow for what it said was the illegal occupation of Crimea and “provocative military activity” in eastern Ukraine.

The firms include Novatek OAO, Russia’s number two natural gas producer, as well as Gazprombank OAO, Russia’s third largest bank by assets. The measures also target state development bank Vnesheconombank GK and small arms producer Kalashnikov.

“These substantively new measures impose restrictions on the issuance of new financing for the designated energy and financial entities,” Canadian Prime Minister Stephen Harper said in a statement.

Reporting by David Ljunggren; Editing by Meredith Mazzilli

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