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ARTICLE · 29 APRIL 2014

Canada Expands Economic Sanctions Against Russia

McCarthy Tétrault
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Today, Canada expanded its economic sanctions measures in response to recent events in Ukraine and Russia.

CanadaInternational Law
John Boscariol
John Boscariol
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Today, Canada expanded its economic sanctions measures in response to recent events in Ukraine and Russia. 11 additional parties, consisting of nine individuals and two companies were added to the list of "designated persons" under the Special Economic Measures (Russia) Regulations (Russia Sanctions Regulations). These new measures focus on close associates and advisors of Russian President Vladimir Putin. They also target two Russian banks – ExpoBank and RosEnergoBank. Another Russian bank, Bank Rossiya, is already subject to Canadian sanctions.

Also today, both the United States and European Union targeted an additional 24 and 15 parties respectively under their economic sanctions measures. Canada still maintains the longest list of sanctions parties under its Russia and Ukraine sanctions measures – it now identifies over 70 parties. Canadian firms doing business abroad or doing business with foreign companies should be carefully reviewing their activities and

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