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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