Canada Imposes Wide-Ranging Economic Sanctions Against Libya

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On February 27, 2011, the Canadian government announced the application of economic sanctions against Libya, following similar moves by the United States and the European Union. In addition to measures that implement United Nations Security Council Resolution 1970 (February 26, 2011), Canada’s sanctions package also includes unilateral measures extending well beyond the UN sanctions.

Any Canadian companies with activities in Libya, or doing business with other companies active in Libya, should be reviewing the new measures to address any compliance issues. All companies doing business internationally should be revising their compliance and screening procedures to reflect these new rules.

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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.

© John Boscariol, McCarthy Tetrault LLP | Attorney Advertising

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