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Saving business: Canada chooses not to sanction Russia’s Rosneft, Rostec bosses

Published time: May 16, 2014 15:51
Rosneft president Igor Sechin.(RIA Novosti / Sergey Guneev)

Rosneft president Igor Sechin.(RIA Novosti / Sergey Guneev)

Canada has chosen not to impose sanctions against two of Russia’s top officials already targeted by the US – Rosneft’s Sechin and Rostec’s Chemezov. Reports say Ottawa doesn’t want politics to be hurting one of the country’s biggest business projects.

"Our goal is to sanction Russia, it is not to go out of our way to sanction or penalize Canadian companies," as Reuters quotes a Canadian government source familiar with Ottawa's sanctions strategy.

"We will continue to apply pressure to Russia, we will continue to impose sanctions along with our allies, but we will also look out for Canada's broader interests," it added.

Sergei Chemezov is head of state-owned industrial and defense conglomerate, Rostec. The company has an aircraft assembly joint venture lined up with Bombardier Inc - a deal vital for the Canadian plane and train maker. Last year the two companies signed a $3.4 billion deal to sell 100 short - haul aircraft in Russia. Another Bombardier interest in Russia includes a long-standing joint venture in its rail business.

Sergei Chemezov, CEO of Rostec State Corporation.(RIA Novosti / Alexey Filippov)

Igor Sechin is CEO of oil giant, Rosneft, which owns some 30 percent of an Exxon Mobil Corp oil field in the western province of Alberta.

A fresh comment contradicts Canada’s earlier statement by Minister Stephen Harper, who said in March that the country’s foreign policy wouldn’t depend on commercial interest.

"It's egregious. I think this is not consistent with what the government's rhetoric is on getting tough with the Russians and getting tough with Putin," said Paul Dewar, foreign affairs spokesman from the New Democrats – Canada’s official opposition.

Canada has maintained a hard stance on Russia, as it has already sanctioned 80 Russian and Ukrainian officials, less than 60 targeted by the US.

Comments (23)

 

james greer 19.05.2014 07:25

US is soon to collapse taking Canada and Briton with it. All three will be removed from the EU and NATO in the near future. The EU is already turning in Russia's favor over sanctions. All nations are tired of obamos warmongering, blundering system. We are already hated by most all country's, The US is not as strong Economical or Military as most think. And they know it.

 

dante88 19.05.2014 02:49

I feel really bad for people in this economy, I like everyone have been struggling. But I tell you what I've done I've taken life into my own hands being responsible for myself. I knew trading was the answer for me and I've purchased different courses at different places and the best course I've found by far is at the website Gold Trading Academy, just Google them and find them and do like I did they get started trading for yourself and take life into your own hands.

 

Mark Donners 18.05.2014 19:59

Harper has sabotaged climate talks, he blocks laws for animal cruelty and endangered species protection, he promotes horrific wildlife massacre bloodbaths, such as the harp seal pup bloodbaths (ignoring the entire world which has banned and boycotted Canada for that atrocity) and many other less publicized ones like elk massacres and endangered polar bear trophy hunts. He indulges in massive land and air pollution across Canada and clearcutting of old growth. Along with his crushing of laws upholding human rights, and his arms peddlng and warmongering, Harper has shown he's a threat to the world and must be removed.

View all comments (23)
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