By MarketsFarm
WINNIPEG, March 8 (MarketsFarm) – The following is a glance at the news moving markets in Canada and globally.
– The United States is expected to impose a ban on oil imports from Russia as sanctions against the country grow in response to its invasion of Ukraine. The European Union is also set to impose new sanctions against more Russian oligarchs and politicians as well as Belarusian banks. Shell also announced Tuesday that it would stop purchases of Russian oil and phase out its involvement in the country’s energy sector, becoming one of the first major Western oil companies to do so.
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– A number of humanitarian corridors have been opened in Ukraine, allowing civilians to flee the conflict region to safer areas of the country and Europe. Ukraine had earlier rejected Russian plans that would have funneled civilians to Russia and Belarus.
– Canadian Prime Minister Justin Trudeau is meeting with NATO allies in Latvia on Tuesday to discuss the war in Ukraine. Canada’s defence spending currently falls short of the NATO target of two per cent of GDP, at 1.39 per cent. The Liberal government has argued in the past that there are other ways to measure the contribution of a country’s military than the percent of GDP.
