The federal government is implementing more sanctions against Russia, sending more lethal aid to Ukraine, and is simplifying the process for Ukrainians wishing to come to Canada to escape the war.
Deputy Prime Minister Chrystia Freeland announced Thursday that Canada is revoking the two countries "most favoured nation status as a trading partner with Canada."
"This means that Russia and Belarus will no longer receive the benefits, particularly low tariffs, that Canada offers to other countries that are fellow members of (World Trade Organization)," Freeland said during a news conference. "Instead, Russia and Belarus will be subject to a tariff of 35 per cent on their exports to Canada."
Freeland claimed the sanctions placed on Russia by most of the rest of the world are already having an effect with the ruble plummeting 30 per cent, interest rates soaring to 20 per cent and both Fitch and Moody's downgrading Russian government debt to junk status.
Immigration Minister Sean Fraser announced two new immigrations streams, one to provide Ukrainians with a temporary safe haven in Canada and the other to fast-track applications for Ukrainians wishing to reunite with family members already in Canada through a family sponsorship program.
The Canada-Ukraine Authorization for Emergency Travel will waive most visa requirements for Ukrainians and allow them to stay in Canada for up to two years.
Fraser said during that time Ukrainians will be permitted to work or go to school.
"We are waiving most of the requirements that exist under a traditional visa," said Fraser. "In order to qualify, individuals will need to complete a simple application form and provide biometrics for security and background screening."
Canada is also sending up to 4,500 M72 rocket launchers and 7,500 hand grenades to Ukraine.
"These weapons will be drawn from the Canadian Armed Forces existing stockpiles and will be transported to the region as quickly and safely as possible," said national defense minister Anita Anand.
Fraser vowed Canada is committed to doing whatever it takes for as long as it takes to help Ukraine win the war.
"We will provide equipment to help defend your homeland. We will provide financial support to help stabilize your economy. We will impose economic sanctions on your oppressor. And today we will offer safe haven to your families while you fight on the front lines of a war to defend your freedom from tyranny to the benefit of the entire world."