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ARTICLE · 15 JANUARY 2018

Canada's Indirect Economic Sanctions: Where Export Development Canada Is Not Pursuing Business At This Time

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Canada effectively imposes significantly restrictive economic sanctions against certain countries via Export Development Canada ("EDC") decisions about where they will and will not or business.

CanadaInternational Law
Cyndee Todgham Cherniak
Cyndee Todgham Cherniak
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Canada effectively imposes significantly restrictive economic sanctions against certain countries via Export Development Canada ("EDC") decisions about where they will and will not or business.  The EDC is Canada's export credit agency/trade finane agency.  The EDC extends credit to Canadian businesses (big and small) to facilitate export sales. EDC financial products and services include trade credit insurance, export financing for Canadian companies and for their foreign customers, bonding products, and advice on doing business outside Canada.  If the EDC will not provide trade insurance, export financing or bonding products for exports to certain countries, many Canadian businesses are not able to pursue opportunities in those markets (unless the business is able to self-fund or obtain banks financing and insurance).  Canadian companies have been forced to retreat from the Russian market due to this hidden economic sanction.

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