On July 8, 2022, Canada announced a new round of sanctions against Russia, imposed under the Special Economic Measures Act by way of amendments to the Special Economic Measures (Russia) Regulations (“Russia Regulations”). The primary target of this latest round of sanctions is the Russian disinformation and propaganda campaigns.

The new measures consist of sanctions against fifteen (15) Russian disinformation entities controlled or owned by the Russian government and involved in disinformation efforts. Canada is also sanctioning thirty (30) state-sponsored disinformation and propaganda agents, who Canada considers to have “enabl[ed] and support[ed] Russia’s unprovoked and unjustified invasion of Ukraine”.

In support of Canada’s efforts against Russian disinformation and propaganda, Canada has launched a webpage identifying “a sample of the many lies by the Russian regime about its invasion of Ukraine, along with the truth”. The information provided on that webpage are based on information collected by Canada’s intelligence.

The announcement was also accompanied by a ban on imports of certain gold goods from Russia. Canada’s stated intention is to shut “these products out of formal international markets and further limi[t] Russia’s ability to raise funds to wage war”.

Our team will continue to monitor the sanctions measures related to Russia, 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.