\u0027We are at the most dangerous moment for world stability in a generation,\u0027 Foreign Affairs Minister Mélanie Joly said
Finance Minister Chrystia Freeland said the “measures that Canada and our allies have been preparing will be sustained” and cautioned the “economic cost to Russia will be severe.”Article content
Joly warned “today’s measures are just the beginning.” She said, “Should Russia further invade Ukraine, it will be met with severe coordinated economic sanctions and increasing pressure if they refuse to change course.” Germany, which is dependent on imported natural gas from Russia, has halted certification of the Nord Stream 2 natural gas pipeline from Russia. Joly praised that decision Tuesday, while Trudeau noted that pipeline stood to be a “significant source of revenue” for Russia.
Earlier this month, Trudeau discussed “potential future cooperation on liquefied natural gas” with the German chancellor. Peter Tertzakian, managing director of ARC Financial, told the National Post it may be another two years before Canada can provide natural gas exports to Germany, because the necessary facilities here are still in the process of being built.
Last week, Trudeau said Canada would send Ukraine $7.8 million of lethal equipment and ammunition and offer a loan of up to $500 million, on top of the $120 million loan Canada offered earlier. On Tuesday, he said Canada has authorized the deployment of up to 460 members of the Canadian Armed Forces to NATO’s Operation Reassurance. “This involves more troops to Latvia, as well as the deployment of an additional frigate and maritime patrol aircraft,” Trudeau said.
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