Canada sanctions Russian energy execs, issues Ukraine bonds

Canada on Friday announced fresh sanctions against 35 individuals and six companies in Russia's energy sector, as well as a bond issue to support Ukraine.

The sanctions target oil and gas giant Lukoil and senior officials at Gazprom and its subsidiaries, as well as Russia's energy and industry ministers, Deputy Prime Minister Alexander Novak and former prime minister Viktor Zubkov.

Former National Hockey League player Alexander Frolov and chess grandmaster Anton Demchenko also made the list, which now covers more than 1,400 individuals and entities accused of complicity in Russia's invasion of Ukraine.

Funds raised from the issuing of the five-year Ukraine bonds, meanwhile, aim to help Kyiv pay pensions and "keep the lights on," Prime Minister Justin Trudeau told a news conference.

"Ukrainian sovereignty bonds are a way for Canadians to directly contribute to the fight against Russia, to support the Ukrainian people and the Ukrainian government," he said.

Officials declined to say how much Ottawa hopes to raise through the bond issue, which is also open to foreign buyers.

Proceeds will be channelled through an International Monetary Fund account set up in April for grants and loans to Ukraine.

The Ukrainian Canadian Congress, a community group representing the diaspora, praised Canada's move in offering the "ground-breaking investment in a peaceful, democratic and just future, not only for Ukraine, but for all of Europe."

"The UCC calls on all states who believe in freedom and liberty to follow Canada's example," it said in a statement.