Alert: Canada Introduces Additional Sanctions Against Russia

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On February 17, 2015, the Government of Canada announced that new entities and individuals in Russia and Ukraine have been designated under Canada’s sanctions laws. These new measures are introduced in coordination with the United States and the European Union, and are in response to the ongoing conflict in Ukraine.

The list of new entities and individuals designated under the Special Economic Measures (Ukraine) Regulations is available here.

The list of new entities and individuals designated under Schedule 1 to the Special Economic Measures (Russia) Regulations is available here.

Russian energy company Rosneft has also been designated under Schedule 3 to the Special Economic Measures (Russia) Regulations.

Every person in Canada and every Canadian outside Canada are subject to specific prohibitions and reporting obligations in respect of their dealings with the newly designated entities and individuals, and will need to add the new designations to their existing sanctions screening processes and controls.

 

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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