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Trade turnover between Russia and Canada has decreased over the past 2 years

Trade relations between Russia and Canada are currently, as RIA Novosti reports, “breathing their last breath.” Two years ago, the North American country de facto curtailed economic ties with Moscow, as confirmed by the Russian Ambassador in Ottawa Oleg Stepanov.

For the period from January to November last year, trade between Russia and Canada amounted to only $83 million. For comparison, for the whole of 2021 - $2.2 billion. That is, over the past two years, bilateral trade turnover has decreased by 26 times.

“Almost all imports from our country are prohibited. The most favored nation regime was unilaterally abolished, which entails the introduction of 35% duties for Russian exporters. Canadian airspace and waters are closed to aircraft and vessels associated with Russia or its citizens,” the diplomat noted.

Since February 2022, official Ottawa has introduced more than 60 sanctions packages against Moscow. Prohibitory measures affected industries critical to the Russian economy.

Trade turnover between Russia and Canada has decreased over the past 2 years