On March 01, 2022, the Minister of Natural Resources, the Honourable Jonathan Wilkinson, announced the Government of Canada will ban crude oil imports from Russia. According to the Canada Energy Regulator, Canada does not currently import any crude oil from Russia, and has not since 2019. The new ban will ensure this remains the case going forward. Once approved, this ban will be effective until further notice.
We are also taking steps to identify additional petroleum products that may be included in this ban. We continue to monitor the supply situation closely with partner International Energy Agency countries and, if necessary, are prepared to act jointly to maintain security of supply in energy markets.
This is an excerpt from the Natural Resources Canada news release.