New Economic Sanctions Against Syria

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On May 24, 2011, the Canadian government announced the immediate imposition of economic sanctions against Syria. The measures include an asset freeze against persons associated with the current Syrian regime and entities involved in security and military operations and a ban on the export or transfer from Canada to Syria of goods and technology subject to export controls. The Canadian government has also imposed a travel ban to Canada for certain individuals associated with the current Syrian regime and the suspension of all bilateral cooperation agreements and initiatives with Syria.

All Canadian companies should immediately update their sanctions compliance programs and screening procedures and review ongoing transactions to ensure full compliance with the new sanctions regime.

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Published In: Antitrust & Trade Regulation Updates, Energy & Utilities Updates, International Trade Updates, Military Updates, Mergers & Acquisitions Updates

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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