On August 2, 2022, the Government of Canada further amended the Special Economic Measures (Russia) Regulations to list an additional 43 individuals and 17 entities, which it identified as elites and close associates of the Regime and Russian defence entities. Specifically, Canada has indicated that “these persons include military officials involved in the Bucha massacre and entities in the defence sector directly or indirectly supporting the Russian military.” Of note, many of the individuals were sanctioned a number of months ago by Canada’s allies, including members of the European Union.

Our team continues to monitor the sanctions related to Russia, providing updates 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. We 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, we 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 Canadian application for delisting process as well as applications for exemption permits.