Global Markets: Canada to implement sanctions if Russia invades

WINNIPEG – The following is a glance at the news moving markets in Canada and globally.

– Canadian Minister of Foreign Affairs Melanie Joly said on Thursday the country will join its allies in implementing severe sanctions on Russia should the latter choose to invade Ukraine. At a news conference in Brussels, Joly added that Prime Minister Justin Trudeau is exploring options in terms of military resources, including sending weapons to the region. Russia currently has 100,000 troops along its border with Ukraine, along with tanks and other heavy artillery, but Russia denies planning an invasion.

– Austria’s parliament will vote on Thursday whether or not to implement a COVID-19 vaccine mandate for adults, the first one in Europe. The mandate will apply to all Austrians 18 years of age or over with exemptions for pregnant women, people who cannot be vaccinated due to medical reasons and people who have recovered from a COVID-19 infection within the past six months. All parties in parliament, with the exception of the far-right Freedom Party, have supported the mandate.

– Unemployment claims in the United States increased by 55,000 to a three-month high of 286,000 for the week ended Jan. 15, according to the U.S. Labor Department. The increase in claims is the largest in six months and suggests that companies are laying off staff due to the Omicron COVID-19 variant.

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