07/24/2014 03:41 EDT | Updated 09/23/2014 05:59 EDT

Chris Alexander to announce sanctions against Russian firms

Citizenship and Immigration Minister Chris Alexander will announce sectoral sanctions by the Canadian government against Russia in Toronto today.

CBC News has learned that Canada will level sanctions against two major Russian financial institutions, one energy firm and a major firearms company. is carrying the announcement live starting at 4:15 p.m. ET.

Foreign Affairs Minister John Baird, who is currently on an official visit to Mongolia, said on Monday Canada was ready to level more sanctions against Russia in the wake of the downing of Malaysia Airlines Flight MH17 in Eastern Ukraine.

While Baird didn’t directly blame Russia for shooting down the plane, he said it must take some responsibility. “The Kremlin may not have pulled the trigger, but it certainly loaded the gun and put it in the murderer’s hand,” he said.

Baird told reporters new sanctions would be introduced against individuals and entities, as well as entire sectors of the Russian economy.

He said they would be similar to those already imposed by the U.S.

More to come