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Ottawa's Parliament Hill, where the Carney government is rolling out Canada's largest fiscal stimulus package since 1980. / Photo: Unsplash. MoneySavings.ca  ·  Economy & Policy Monday, April 13, 2026  ·  Daily Edition Canada at a crossroads: oil shock, frozen rates, and a trade deal on the clock Canada's economy is navigating a uniquely complicated moment in 2026. A Middle East conflict has sent oil prices surging past US$104 a barrel, a once-in-a-generation fiscal stimulus package is being rolled out in Ottawa, and the clock is ticking on a renegotiation of Canada's most important trade agreement. For everyday Canadians, this means uncertainty at the gas pump, a central bank with limited room to cut rates, and a federal government betting big on public spending to kick-start growth. Here is what you need to know about the forces shaping the Canadian economy right now. 1. The Bank of Canada is stuck — and oil is why The Bank of Canada has held it...
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Britain Greenlights Military Action Against Russia’s Shadow Fleet

A French navy boat surrounds the GRINCH oil tanker, intercepted by France in the Alboran Sea on suspicion of operating under a false flag and belonging to Russia's shadow fleet, near Martigues, France.


UK Steps Up Pressure on Russian Oil Exports

British Prime Minister Keir Starmer has authorised the UK military to board and detain Russian “shadow fleet” tankers, marking the country’s most assertive move yet to disrupt Moscow’s sanctions‑evading oil trade. 

The decision aligns Britain with several European nations—including France, Belgium, and Sweden—that have intensified efforts to intercept tankers believed to be helping Russia fund its ongoing war in Ukraine. Starmer said the move was driven in part by rising global oil prices amid the U.S.-Israel conflict with Iran, suggesting Russian President Vladimir Putin was “rubbing his hands” at the market turmoil.

What the Authorization Means

  • UK forces can now board Russian vessels in British waters if they refuse to surrender, are armed, or use advanced surveillance to evade capture.
  • Criminal proceedings may follow for ship owners, operators, or crew found violating sanctions. 
  • The policy may force Russian tankers to avoid the English Channel, increasing travel distances and costs for Moscow’s oil shipments. 

Broader Context

Russia’s shadow fleet—hundreds of tankers with opaque ownership and often poor safety standards—has been crucial in keeping its oil exports flowing despite Western sanctions. Britain has already sanctioned 544 such vessels, which carry an estimated three‑quarters of Russia’s crude oil. 

Starmer will push for greater international coordination on seizing these vessels at the Joint Expeditionary Force Summit in Helsinki, underscoring the UK’s intent to tighten the economic squeeze on Moscow.


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