On March 9, 2022, Canada announced further sanctions against Belarus imposed under the Special Economic Measures Act by way of amendments to the Special Economic Measures (Belarus) Regulations (“Belarus Regulations”). Earlier this month, Canada also stripped Russia and Belarus of their “most-favored-nation” trade status. Between September 29, 2020, and December 2, 2021, Canada imposed a series of sanctions, mostly in coordination with its allies, including the EU, the UK, and the US. For information on those rounds of sanctions, see Canada Expands Economic Sanctions Against Belarus and Canada Announces New Round Of Sanctions On Belarus.
The involvement of Belarus in the recent Russia-Ukraine conflict, including from Belarusian territory, led to Canada expanding its sanctions against Belarus on the grounds that “the actions of Belarus constitute a grave breach of international peace and security that has resulted or is likely to result in a serious international crisis.” (amendments) Specifically, the recent amendments target an additional 19 individuals and 25 entities.
Our team will continue to monitor the sanctions measures related to Russia, Belarus, and Ukraine, providing updates about important developments affecting trade and services.
The lawyers at Tereposky & DeRose LLP have significant experience in assisting with navigating sanctions to ensure compliance in business transactions, 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.