Canada News

The West’s sanctions campaign is going after Russia’s oligarchs — but it won’t be easy

Summary

As Western democracies expand their coordinated sanctions targeting Russia, they’re also moving against an elite group of Russian billionaires — the oligarchs — in an effort to pressure Russian President Vladimir Putin to pull out of Ukraine. “We don’t have […]

As Western democracies expand their coordinated sanctions targeting Russia, they’re also moving against an elite group of Russian billionaires — the oligarchs — in an effort to pressure Russian President Vladimir Putin to pull out of Ukraine.

“We don’t have a clear idea of just how wide, just how broad or just how deep these oligarchic investments have gone in Canada or frankly, anywhere else,” Michael Casey, an author and investigative journalist who specializes in money laundering, told CBC Radio’s The House.

“And that’s for a relatively simple reason. We have seen industry after industry … offering not just investments, not just ease of access, but especially anonymity.”

Deputy Prime Minister and Finance Minister Chrystia Freeland told reporters this week that she is imposing sanctions on some oligarchs while also looking into what they own in Canada.

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