News snippet: The federal government has announced it will lower the price cap for Russian-origin crude oil to US$47.60 per barrel, down nearly $13 from the previous $60 per barrel, in an effort to restrict Russia’s war efforts against Ukraine.Finance Minister Francois-Phillippe Champagne along with the Foreign Affairs Minister Anita Anand announced the measure in a press release on Friday, saying Canada, alongside with the EU and the U.K. have taken a stand against Russia’s “unjust and unprovoked war” against Ukraine.
“The lower price cap will weaken Russia’s ability to fund its illegal war and exert renewed pressure on Putin’s military apparatus,” the Department of Finance’s statement said.“By further lowering the price cap on Russian crude oil, Canada and its partners are ratcheting up the economic pressure and limiting a crucial source of funding for Russia’s illegal war,” Champagne said in the statement. “Our government has been a steadfast ally to Ukraine, and we will continue to support them in defending their territorial integrity, sovereignty, and peace for its people.”According to the statement, this strategy will also safeguard any future price caps that may be implemented by Canada.
The_Frostweaver on
This is a way better plan than trumps tariffs.
Trump should tell india he will drop the tariffs if they agree to pay russia the lower price for oil.
It’s win win for India.
Seems like a very reasonable compromise
No_Method5989 on
I am so proud of Canada. I hope we stay united for a while longer and we keep the boycott going get other countries to join in. Something every citizen can try to partake in. I kinda always laugh at the idea before, but it is a direct way for people to engage and it „feels“ like action is being done. That can help a lot in uncertain times. „I can’t control everything, but this I do have“. Good for the psyche, apparently pretty effective.
I am glad we elected Mark Carney. He’s done better then I thought. I like that he took a rational and firm approach to I/P.
I also hope this pisses off Trump as well. I like we are being bold about the shift. Canada doing stuff with the rest of the world solo.
ack4 on
to be clear, this is bad for russia.
sector16 on
Canada under Carney, will punch above its weight.
AWinnipegGuy on
Can someone give me the 30-second explanation on how this works? What is Canada doing that lowers the cap on the price of Russian oil?
Ancient-Spare-2500 on
canada always does the right thing when it comes to the russian problem
Katia657 on
How does this help working under the premise that all this Russia -US tensions are theatrics and really they are aligned and Trump is indeed pro- Russia?
DanoPinyon on
Rising to meet the moment.
Fridaybird1985 on
Brest even for Russia is about $60 a bbl
bareboneschicken on
This is the correct way to deal with this problem. +1 for Canada and common sense.
WaffleHouseGladiator on
Trump tried to squeeze Canada and now Canada has come out swinging. Good for them. I suspect Trump will get some demerits in his personnel record from his boss though.
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News snippet: The federal government has announced it will lower the price cap for Russian-origin crude oil to US$47.60 per barrel, down nearly $13 from the previous $60 per barrel, in an effort to restrict Russia’s war efforts against Ukraine.Finance Minister Francois-Phillippe Champagne along with the Foreign Affairs Minister Anita Anand announced the measure in a press release on Friday, saying Canada, alongside with the EU and the U.K. have taken a stand against Russia’s “unjust and unprovoked war” against Ukraine.
“The lower price cap will weaken Russia’s ability to fund its illegal war and exert renewed pressure on Putin’s military apparatus,” the Department of Finance’s statement said.“By further lowering the price cap on Russian crude oil, Canada and its partners are ratcheting up the economic pressure and limiting a crucial source of funding for Russia’s illegal war,” Champagne said in the statement. “Our government has been a steadfast ally to Ukraine, and we will continue to support them in defending their territorial integrity, sovereignty, and peace for its people.”According to the statement, this strategy will also safeguard any future price caps that may be implemented by Canada.
This is a way better plan than trumps tariffs.
Trump should tell india he will drop the tariffs if they agree to pay russia the lower price for oil.
It’s win win for India.
Seems like a very reasonable compromise
I am so proud of Canada. I hope we stay united for a while longer and we keep the boycott going get other countries to join in. Something every citizen can try to partake in. I kinda always laugh at the idea before, but it is a direct way for people to engage and it „feels“ like action is being done. That can help a lot in uncertain times. „I can’t control everything, but this I do have“. Good for the psyche, apparently pretty effective.
I am glad we elected Mark Carney. He’s done better then I thought. I like that he took a rational and firm approach to I/P.
I also hope this pisses off Trump as well. I like we are being bold about the shift. Canada doing stuff with the rest of the world solo.
to be clear, this is bad for russia.
Canada under Carney, will punch above its weight.
Can someone give me the 30-second explanation on how this works? What is Canada doing that lowers the cap on the price of Russian oil?
canada always does the right thing when it comes to the russian problem
How does this help working under the premise that all this Russia -US tensions are theatrics and really they are aligned and Trump is indeed pro- Russia?
Rising to meet the moment.
Brest even for Russia is about $60 a bbl
This is the correct way to deal with this problem. +1 for Canada and common sense.
Trump tried to squeeze Canada and now Canada has come out swinging. Good for them. I suspect Trump will get some demerits in his personnel record from his boss though.