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ARTICLE · 23 FEBRUARY 2015

UPDATED: Canada Expands Economic Sanctions And Targets Russian Energy Sector

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On February 17, 2015, Canada expanded its already wide-ranging sanctions against Russia and the Ukraine by adding 11 Russian individuals

CanadaInternational Law
Éric Vallières
Éric Vallières
Neil Campbell
Neil Campbell
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On February 17, 2015, Canada expanded its already wide-ranging sanctions against Russia and the Ukraine by adding 11 Russian individuals (public officials, persons in Putin's circle and the Chief Executive Officer of Rostec, a large military defence firm) and 26 Ukrainian public officials to the designated persons list. It also added 17 new entities to its sanctions list. These include political parties, battalions, public movements,1 Novo Oplot (a defence firm) and Profaktor TOV (an accounting firm).

Notably, Canada joined the EU and the US in targeting Rosneft, one of the world's largest publicly-traded petroleum companies. That said, Rosneft is not subject to a general asset freeze, which would effectively ban all dealings with the company. Instead, Rosneft is listed on Canada's Schedule 3 debt-financing blacklist. As a result, Canadian entities are prohibited from transacting in, providing financing for, or otherwise dealing in new debt of longer than 90 days'

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