On June 27, 2022, Canada announced a new round of sanctions against Russia and Belarus and against Ukrainian individuals imposed under the Special Economic Measures Act by way of amendments to the Special Economic Measures (Russia) Regulations (“Russia Regulations”), the Special Economic Measures (Belarus) Regulations (“Belarus Regulations”), and the Special Economic Measures (Ukraine) Regulations (“Ukraine Regulations”).
The new Russian sanctions prohibit the trade with Russia of certain “Restricted technologies” which include advanced technologies and goods that could be used to improve Russia’s domestic defence manufacturing capability. These items include components, materials, software, and technology related to quantum computers and advanced manufacturing equipment. Canada also sanctioned six (6) Russian individuals because they were elites or close associates of the Russian-regime and forty-six (46) Russian financial, defence, and energy entities.
The new Belarussian sanctions bans the importation of luxury goods from Belarus as well as the export from Belarus of luxury goods, advanced technologies, and goods which could be used in the manufacturing of weapons. Canada also sanctioned thirteen (13) close individuals which it asserts are associates of the President of Belarus, Alexander Lukashenko, and two (2) corporate entities because Canada states that they enabled Russia’s invasion of Ukraine.
Through the new sanctions implemented under the Ukraine Regulations, Canada is targeting fifteen (15) individuals that it states are Russian-backed proxies, including senior officials and their family members, sanctioned for their complicity in Russia’s invasion of Ukraine.
Our team will continue to monitor the sanctions measures related to Russia, Ukraine, and Belarus 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.