On September 29, 2022, the Government of Canada further amended the Special Economic Measures (Russia) Regulations to list an additional 43 individuals.  The Government of Canada also further amended the Special Economic Measures (Ukraine) Regulations to add 35 individuals and 1 entity to Schedule 1 of the Regulations. The amendments to the Ukraine Regulations also add new prohibitions that prohibit any person in Canada and any Canadian outside Canada from conducting certain transactions and activities in the Russian-occupied regions of Kherson and Zaporizhzhia in Ukraine. This includes making investments and dealing in goods exported from or destined to these regions.

Our team will continue to monitor the sanctions measures related to Russia, providing updates to keep clients informed about important developments affecting trade and services. The lawyers at Tereposky & DeRose have significant experience in the design and implementation of sanctions-related compliance programs, including policies, procedures, employee training, and internal control mechanisms. They also regularly assist both Canadian and international businesses, financial institutions, and individuals with internal investigations when “red flags” appear and provide advice on compliance in these areas. Where breaches have occurred, they have worked closely with their clients in making voluntary disclosures and in engaging with the ensuing investigations conducted by the RCMP and Global Affairs Canada. We also regularly assist clients with the application for delisting process as well as applications for exemption permits.