Canada Targets Financial Services and Oil & Gas Sectors in New Unilateral Sanctions Against Iran

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Following similar actions taken by the United States and the European Union, Canada today announced the implementation of its own unilateral sanctions against Iran, including controls on goods, services, technology and investments.

These measures extend well beyond the United Nations sanctions implemented several weeks ago and further described in our recent report, Sanctions Alert: The Brave New World of Doing Business with Iran, and add to the compliance burden of Canadian companies doing business internationally, particularly financial institutions and firms operating in the oil and gas sectors.

The new measures are being implemented under Canada

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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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