A Primer On Canadian Sanctions Legislation (April 2017)

Canada, like other major jurisdictions, has introduced a broad range of economic and financial sanctions targeting foreign states and their nationals, as well as various terrorist organizations.

Given that Canada is in many ways a trading nation, and many Canadian businesses have ties elsewhere, sanctions laws have a significant impact not only on the target countries but also on Canadian businesses. Although there is a great deal of harmonization between Canadian sanctions laws and those of Canada's international partners (such as the United States and the European Union), there are also major differences. Compliance with the complex net of sanctions laws is, therefore, an integral aspect of managing reputational, legal and regulatory risks of every business, and must be addressed in the context of every economic undertaking.