Foreign Affairs Minister John Baird has announced additional sanctions and says Canada and its allies are prepared to take further steps to further isolate Russia.
The latest economic sanctions are on a Crimean oil and gas company - Chornomornaftogaz - and two officials - Valery Medvedev, Chair of the Sevastopol Electoral Commission and Mikhail Malyshev, Chair of the Crimean Electoral Commission.
The two officials are also the subject of travel bans.
Canada has imposed similar sanctions on a host of Russian and Ukrainian officials and institutions in the past few weeks over Russia's move to hold a referendum on splitting the Crimea off from Ukraine.
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