Economic Sanctions | Tereposky & DeRose LLP

Russia’s “Military Industrial Complex” and Russian Celebrities Subject to New...

On July 20, 2023, Canada announced new sanctions under the Special Economic Measures (Russia) Regulations (the “Russia Regulations”) targeting individuals and entities associated with Russia’s “military industrial complex” and Russian efforts to “Russify Ukraine’s culture”. The amendments also create additional prohibitions associated with “arms and related material” under section 3.13 of the Russia Regulations. These… Continue reading Russia’s “Military Industrial Complex” and Russian Celebrities Subject to New…

Canada Sanctions: June Update

During the month of June, Canada has issued new sanctions targeting individuals and entities in Ukraine, Haiti, and Iran. It has also enacted new sanctions regulations to target Russian collaborators in Moldova. Further, the Senate Standing Committee on Foreign Affairs and International Trade released a report regarding its legislative review of the Justice of Victims… Continue reading Canada Sanctions: June Update

New Sanctions Announced Against Russia

On May 19, 2023, at the G7 Leaders’ Summit in Hiroshima, Japan, Prime Minister Justin Trudeau announced two new packages of sanctions under the Special Economic Measures (Russia) Regulations, effective retroactively as of May 18, 2023. These new sanctions are intended to “apply pressure on Russia to end its war of choice”. The first set… Continue reading New Sanctions Announced Against Russia

Eleventh Package of Sanctions Announced Against Iran “For Continued Human...

On May 3, 2023, Canada announced additional sanctions, effective retroactively as of April 28, 2023, against one Iranian entity and nine Iranian individuals under the Special Economic Measures (Iran) Regulations (the “Iran Regulations”) for “their role in gross and systemic human rights violations”. The individuals listed include members of the “so-called Morality Police unit that… Continue reading Eleventh Package of Sanctions Announced Against Iran “For Continued Human…

Canada Imposes Additional Sanctions on Russia and Belarus to “Maintain...

On April 11, 2023, Canada announced new sanctions targeting Russia and Belarus. These sanctions, effective retroactively as of April 5, 2023, are intended to “maintain pressure on the Russian regime”. The announcement coincides with a meeting between Prime Minister Trudeau and the Prime Minister of Ukraine, Denys Smyhal, which was held in Toronto yesterday. The… Continue reading Canada Imposes Additional Sanctions on Russia and Belarus to “Maintain…

2023 Budget: Canada Announces Permanent Withdrawal of Most-Favoured-Nation Status from...

As part of its 2023 Budget, Canada has announced plans to permanently withdraw Most-Favoured-Nation (“MFN”) status for goods imported from Russia and Belarus via amendments to the Customs Tariff, which will result in the application of a 35% tariff rate under the General Tariff to almost all imports originating in those countries. This proposed measure is in… Continue reading 2023 Budget: Canada Announces Permanent Withdrawal of Most-Favoured-Nation Status from…

Canada’s Tenth Package of Sanctions Against Iran Targets “Gross and...

On March 23, 2023, Canada imposed additional sanctions against Iran under the Special Economic Measures (Iran) Regulations (the “Iran Regulations”). This tenth round of sanctions includes eight individuals and two entities, who have been targeted for “gross and systemic human rights violations”. According to Canada, “[t]he sanctioned entities support the Iranian regime by helping them disrupt and manipulate the… Continue reading Canada’s Tenth Package of Sanctions Against Iran Targets “Gross and…

Canada Imposes a Seventh Round of Sanctions Targeting “Haitian Elites”

On March 23, 2023, Canada further amended the Special Economic Measures (Haiti) Regulations (the “Haiti Regulations”) by imposing additional sanctions against two individuals. This marks Canada’s seventh round of sanctions against “Haitian elites”. To date, eleven individuals are listed under Part One of the Schedule of the Haiti Regulations for a “grave breach of international… Continue reading Canada Imposes a Seventh Round of Sanctions Targeting “Haitian Elites”

Canada Bans Import of Aluminum and Steel Products From Russia

On March 10, 2023, Deputy Prime Minister Freeland announced that Canada is banning Russian aluminum and steel imports into Canada. Canada has justified this import ban as a way to “further deny Russia the ability to generate the revenues it needs to pay for its war against Ukraine”. This announcement comes exactly one year following Canada’s import ban… Continue reading Canada Bans Import of Aluminum and Steel Products From Russia

New Sanctions Imposed Against the Iranian Regime in Response to...

Canada has imposed additional sanctions on 12 individuals under Schedule 1 of the Special Economic Measures (Iran) Regulations (the “Iran Regulations”). These sanctions, announced on February 27, 2023, target “senior officials from the Islamic Revolutionary Guard Corps (IRGC) and Law Enforcement Forces (LEF) who have participated in gross and systematic human rights violations in Iran, including through the lethal… Continue reading New Sanctions Imposed Against the Iranian Regime in Response to…

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Category: Economic Sanctions