Following the Russian invasion of Ukraine – and the more
recent developments in the Middle East – Canada, the United
States, and its NATO allies have issued numerous economic sanctions
against Russia, the occupied regions of Ukraine, Belarus, and Iran,
amongst others.
The escalating breadth of Canadian sanctions continue to pose
even more legal challenges for funds, portfolio companies, and
investors. These sanctions are very broad in their application to
individuals and businesses in Canada, Canadian corporations and
their non-Canadian subsidiaries operating abroad.
Sanctions have, and will continue to, play a central role in
private equity as we move through 2024. Funds must consider their
exposure to sanctions violations when operating in jurisdictions
which are, or may become, the target of sanctions and should also
prepare if existing or potential investors are or may become
subject to sanctions. They must also consider that the sanctions
law of several
