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CTV News analyzed the financial data of the 32 legal entities that face sanctions from Canada after Russia invaded Ukraine. To compare banks, the value of their total assets has been considered to determine the financial strength of a bank. For non-banks, revenue or market capitalization has been considered.
On Feb. 22, 2022, Canada imposed its first round of sanctions, followed by another series which include 382 individuals and wealthy oligarchs and 32 Russian entities underA total of 31 of the 32 entities have no physical presence in Canada.
The U.S., U.K., Germany, Japan, and Australia have also announced similar sanctions that include asset freezes of Russian entities.Canada uses two types of sanctions against Russia which include immobilization of its assets, and restrictions on trade to and from Russia. The aim is to ban any foreign transactions through the Russian banking system and constrain its ability to import and export goods. On Saturday, U.S.
After the U.S., EU, U.K, and Canada blocked some Russian banks from the SWIFT international payment system on Saturday, the ruble fell about 30 per cent against the dollar on Monday — making it worth less than one U.S. cent.that the Russian banks were highly resilient since each bank’s balance sheet was predominantly in rubles. It was further stated that foreign currency loans had been granted mainly to solvent Russian companies.