On February 24, 2023, Prime Minister Trudeau announced additional measures to continue supporting the people of Ukraine, including imposing sanctions against 129 individuals and 63 entities. These additional sanctions come one year following Russia’s invasion of Ukraine, and add to the list of over 1200 individuals and 340 entities sanctioned under the Special Economic Measures (Russia) Regulations (the “Russia Regulations”).
Included amongst this round of sanctioned individuals are “senior managers in Russia’s leading defence companies, senior officials in the Russian government facilitating Russia’s invasion of Ukraine, a Russian oligarch and the family members of sanctioned individuals”. Further, Canada has added individuals who are “members of the lower house of Russia’s parliament who have voted in favour of legislation related to the invasion and attempted annexation of four regions of Ukraine” to Schedule 1 of the Russia Regulations. The entities captured by this round of sanctions include those “involved in Russia’s defence industry, including the production of tanks, missiles and weapons systems that Russia is using in Ukraine” as well as “federal Russian institutions”.
Our team will continue to closely monitor the sanctions measures related to Russia, providing updates to keep clients informed about important developments affecting trade and services. We have significant experience in the design and implementation of sanctions-related compliance programs and internal investigations. Where breaches are identified, we work closely with 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, including under the Special Economic Measures (Russia) Permit Authorization Order.