Canada and Robert Kahn

Robert Kahn: "I do believe that ultimately, these sanctions have the potential to become quite powerful in terms of their impact on the Russian economy, but it will take some time," said Robert Kahn , a senior fellow in international economics at the Council on Foreign Relations. , according to Canadian Broadcasting Corporation, CBC. Russia involvement in the crisis in Ukraine has roiled financial markets and led a number of countries, including Canada, to impose a series of sanctions against Russian banks and companies, including asset freezes and loan bans on a score of individuals and companies. On Wednesday, Canada announced new economic and travel sanctions against Russian banks and high-ranking officials. Economic sanctions levelled against Russia will take some time to filter through the economy but could have a significant impact on the country in the future, analysts say. "We re not seeing it in a macro economically significant way yet businesses being closed and pulling out but we're certainly seeing investments being reduced," said Kahn , adding that he expects there to be a pretty significant recession over the next year and a half. Canada levels new sanctions against Russian banks, officials Russia bans food imports from Canada Ukraine crisis: fear of escalation roils markets Sanctions against Russia in Phase 3, but is Vladimir Putin listening? Russia-U.S. relations are chilly, but is this another Cold War? (news.financializer.com). As reported in the news.