![]() ![]() A better headline for the article would be "Canadian banks, insurance companies are getting millions from investments in Russian oil and gas". Taoiseach Micheál Martin has written to all Irish embassies. To help readers keep up, the National Observer needs to follow the money accurately and clearly. THE GLOBAL GREENING campaign will not take place this year so monuments can be lit in Ukraine’s colours. ![]() With Russia's national army invading Ukraine, Canada's national government and international allies are learning how to use economic instruments as safe effective weapons in new ways. It would be a different, deeper - more difficult - challenge for a Canadian government still in a neoliberal era to require divestment of specific existing private investments. Imposing sanctions against specific future money flows is one thing. Divestment is in the power of the shareholders and boards of the corporations to do. The article author Brooks calls for DIVESTMENT, not sanctions. Money FROM O&G operations in Russia is flowing INTO Canadian-based financial corporations, as co-beneficiaries with the Russian government. Brooks describes the present totals of past investments - a pool of assets, not a flow. This would call for SANCTIONS by the Canadian government.īut that's not a money flow the article describes. The headline says money FROM Canadian-based corporations is continuing to flow INTO O&G operations in Russia. The federal government, Manulife, RBC, BMO, and CIBC did not return a request for comment by deadline. Stand.earth is calling for Ottawa to require Canadian companies to divest from Russian-owned companies in an expected next round of sanctions. Similarly, Shell said on Monday it would exit all of its Russian operations, including the Nord Stream 2 pipeline and the Sakhalin 2 LNG plant, where it holds a 27.5 per cent stake, and where Gazprom is a 50 per cent owner. Paris lit up the Eiffel Tower in the blue-and-yellow colours of the Ukraine flag on Thursday, as Ukraines allies around the world prepared to mark one-year of the war between Ukraine and Russia. On Sunday, after decades of working in Russia, BP announced it would divest itself of its 19.75 per cent stake in Rosneft, potentially costing BP $25 billion. The event will see the CN Tower, the tallest in Canada, light up in the colors of the Egyptian flag at sunset marking the second time the tower has lit up with the Egyptian flag’s colors in 30 years. Western oil and gas giants are also starting to distance themselves. Many Russian banks have been cut off from SWIFT, the plumbing of the global financial system. slapped sanctions on Nord Stream 2 last week, and Reuters reports the company is now considering filing for insolvency given sanctions are only expected to tighten. Part of the international response against Russia is to sanction key elements of its economy. People flood the streets of Vancouver last month to demonstrate Russia's invasion of Ukraine. The lighting begins at sunset, however it wont become fully visible until the sky darkens sufficiently approximately 30. ![]()
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