- Canadian Government Issues New Sanctions Against Russia
- July 14, 2015 | Authors: Vincent DeRose; Jennifer Radford
- Law Firm: Borden Ladner Gervais LLP - Ottawa Office
- On June 29, 2015, the Canadian Government announced the imposition of additional sanctions against Russian individuals and organizations. This expansion of Canada’s economic sanctions against Russia is a response to what Prime Minister Stephen Harper has described as continued aggression in Crimea.
The new amendments expand the list of both “Schedule 1” and “Schedule 3” designated persons and entities. The prohibitions applicable to “Schedule 1” designated persons and entities are much more onerous than the prohibitions applicable to “Schedule 3” designated persons.
The following individuals have been added to the “Schedule 1” designated persons list:
- Aleksandr DUGIN
- Pavel KANISHCHEV
- Andrey KOVALENKO
- Eurasian Youth Union
- JSC Sirius
- JSC Tula Arms Plant
- JSC United Aircraft Corporation
- Marshall Capital Fund
- Night Wolves Motorcycle Club
- OAO JSC Chemcomposite
- OAO Wysokototschnye Kompletski
- OJSC Stankoinstrument
- OPK Oboronprom
- dealing in any property, wherever situated, held by or on behalf of a Schedule 1 designated person or entities;
- entering into or facilitating, directly or indirectly, any transaction related to such a dealing;
- providing any financial or related service in respect of such a dealing;
- making goods, wherever situated, available to a Schedule 1 designated person or entity; and
- providing any financial or related service to or for the benefit of a Schedule 1 designated person or entity.
Schedule 3 to the Regulations has also been amended by adding the following entities.
- 3. OJSC Gazprom
- 4. OJSC Gazprom Neft
- 5. OJSC Surgutneftegas
- 6. Transneft OAO
The economic sanctions do not prevent Canadian companies from continuing to do business with Russia. However, these economic sanctions impose a greater burden on Canadian companies conducting business in Russia, or with Russian business partners outside of Russia, to ensure that they maintain compliance with Canadian law.