Canada Expands Economic Sanctions Against Iran

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On November 21, 2011, Canada announced new sanctions against Iran in coordination with authorities in the United States and the United Kingdom. These sanctions, implemented in response to the November 9, 2011 International Atomic Energy Agency's assessment of Iran's nuclear capabilities, significantly expand on Canada's current measures against Iran and will have specific impact on the Canadian financial services and oil and gas sectors. Other companies, even those that are not engaged in business with Iran, may also be affected by these new controls.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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