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Canada Economic Sanctions

Bennett Jones LLP

Canada's Crack-down on Sanctions Evasion

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On June 20, 2024, Bill C-59, the Fall Economic Statement Implementation Act received royal assent. Division 8 of this legislation introduced various amendments to the Proceeds of Crime (Money Laundering) and Terrorist...more

Stikeman Elliott LLP

Sanctions Evasion: Canada Takes Aim with New FINTRAC Reporting Requirements for Reporting Entities

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Reporting entities under the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA) will soon be subject to a new requirement to report transactions suspected to be related to sanctions evasion to the...more

DRI

Sanctions Update: Global Affairs Canada Issues its First Official Guidance on Economic Sanctions

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On March 22, 2024, Global Affairs Canada (GAC) provided its first public guidance on Canadian sanctions legislation. This guidance, among other things, significantly broadens the scope of prohibited business dealings under...more

Bennett Jones LLP

A New Chapter in Canada Ukraine Free Trade Opens with Modernized CUFTA

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On March 19, 2024, Bill C-57, An Act to implement the 2023 Free Trade Agreement between Canada and Ukraine (the New CUFTA) received royal assent, introducing a modernized version of the Canada-Ukraine Free Trade Agreement....more

Dechert LLP

Multiple Governments Impose Joint Sanctions on Russia

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On the second anniversary of the start of the war in Ukraine and in response to the death of activist Aleksey Navalny in a Russian prison, the United States, European Union, and United Kingdom, along with Australia and...more

Barnea Jaffa Lande & Co.

Risk to Israeli Entities Posed by International Sanctions – What Is the Exposure and What Are the Dangers?

The executive order signed by United States President Joseph Biden in February 2024 states that the violence being committed by Israeli settlers has reached intolerable levels; poses a serious threat to peace, security, and...more

American Conference Institute (ACI)

[Event] 8th Annual Canadian Forum on Global Economic Sanctions - March 6th - 7th, Toronto, ON, Canada

Immerse yourself in the only comprehensive economic sanctions event of its kind in Canada, spanning two days of invaluable insights and practical knowledge. Designed to cover U.S., EU, and major global sanctions, this...more

American Conference Institute (ACI)

[Event] U.S. Export & Re-export Compliance for Canadian Operations - January 24th - 25th, Mississauga, ON, Canada

We are pleased to announce that the 13th Annual Forum on U.S. Export & Re-Export Compliance for Canadian Operations is returning to Toronto on January 24–25, 2024! As the only comprehensive, practical event of its kind in...more

Bennett Jones LLP

UPDATED Canadian Sanctions Targeting Russia, Belarus and Separatist Territories in Ukraine Expanded in Response to the Russian...

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On February 21, 2022, Russia formally recognized the purported independence of two regions in Eastern Ukraine, Donetsk and Luhansk. The next day it ordered Russian troops into the separatist-occupied territories, and the...more

Blake, Cassels & Graydon LLP

Entrée en vigueur de modifications clés à la législation canadienne sur les sanctions

Le 22 juin 2023, la Loi no 1 d’exécution du budget de 2023 a reçu la sanction royale. Cette nouvelle loi apporte plusieurs modifications importantes à la législation canadienne sur les sanctions, lesquelles touchent les...more

Blake, Cassels & Graydon LLP

Key Amendments to Canadian Sanctions Legislation Now in Force

On June 22, 2023, the Budget Implementation Act, 2023, No. 1 received Royal Assent. The new legislation enacted several key amendments to Canadian sanctions legislation, which impact regulated financial institutions and...more

Blake, Cassels & Graydon LLP

A Primer on Canadian Sanctions Legislation - July 2023

Canada, like other major jurisdictions, has a broad range of economic and financial sanctions targeting foreign states and their nationals, as well as various terrorist organizations....more

Bennett Jones LLP

New Canadian Economic Sanctions "Deemed Ownership" Rule Now in Force

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On June 22, 2023, Budget Implementation Act, 2023, No. 1 (formerly Bill C-47) received Royal Assent. Among the various other measures in this omnibus bill, the Act made significant amendments to Canada's autonomous sanctions...more

Stikeman Elliott LLP

Canadian Sanctions Update: The Latest Regulatory Developments

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In this post, we describe the economic sanctions imposed by Canada since our March 28, 2023 update, including additional designations of Russian, Belarusian, Iranian and Haitian persons under existing sanctions regimes and a...more

Bennett Jones LLP

UPDATED Canadian Sanctions Targeting Russia, Belarus and Separatist Territories in Ukraine Expanded - May 2023

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On February 21, 2022, Russia formally recognized the purported independence of two regions in Eastern Ukraine, Donetsk and Luhansk. The next day it ordered Russian troops into the separatist-occupied territories, and the...more

American Conference Institute (ACI)

[Event] 22nd Annual Canadian Forum on Anti-Money Laundering and Financial Crime - June 7th - 8th, Toronto, Ontario, Canada

AML compliance for reporting entities has never been of greater critical importance than it is today. With the growing sophistication of criminals and the methods and technologies that they employed, combined with the...more

Bennett Jones LLP

Canadian Government Introduces Legislation to Add Sanctions 50% Rule and Update Rules on Ownership and Control

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On April 20, 2023, Canada's federal government introduced Bill C-47, An Act to implement certain provisions of the budget tabled in Parliament on March 28, 2023. Among the numerous legislative changes contained in this...more

White & Case LLP

Overview of Switzerland’s 10th sanctions package in relation to Russia

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On 29 March and 20 April 2023, Switzerland adopted new measures against Russia, following those recently adopted by the EU as part of a tenth sanction package. More industrial, high-tech and aviation goods are now banned for...more

Stikeman Elliott LLP

Canadian Sanctions Update: Recent Regulatory and Judicial Developments

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In this post, we describe the economic sanctions imposed by Canada since our November 5, 2022 update, as well as Russian asset freezing order and a judicial decision in the sanctions law area. We expect more sanctions and...more

Blake, Cassels & Graydon LLP

A Primer on Canadian Sanctions Legislation - March 2023

Canada, like other major jurisdictions, has a broad range of economic and financial sanctions targeting foreign states and their nationals, as well as various terrorist organizations. Given that Canada is in many ways a...more

Blake, Cassels & Graydon LLP

First Court Decision to Interpret Sanctions Against Russia Adopts Broad Interpretation of Corporate

Canadian sanctions against Russia under the Special Economic Measures (Russia) Regulations, (Russia Regulations) affect nearly every Russian industry, including companies incorporated outside Russia that are indirectly or...more

Blake, Cassels & Graydon LLP

Sanctions contre la Russie : une décision judiciaire interprète largement le « contrôle » des entreprises

Les sanctions canadiennes à l’encontre de la Russie en vertu du Règlement sur les mesures économiques spéciales visant la Russie (le « Règlement sur la Russie ») touchent à peu près tous les secteurs de l’économie russe, y...more

Stikeman Elliott LLP

Canadian Sanctions Update: Russia, Belarus, Iran and Haiti Face New Restrictions

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In this post we describe the economic sanctions imposed by Canada since our October 5, 2022 update. While the latest sanctions on Russia, Belarus and Iran are largely incremental extensions of existing measures, a new...more

Dickinson Wright

Canada Sanctions Iranian Officials for ‘Systematic Human Rights Violations’

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Introduction - On October 3, 2022, the Honourable Melanie Joly, Canada’s Minister of Foreign Affairs, announced that Canada was imposing sanctions on 25 Iranian officials and 9 Iranian entities/organizations that are...more

Stikeman Elliott LLP

Canada Imposes New Sanctions on Iran in Relation to Human Rights Violations and Iran’s Actions That Have Resulted or Are Likely to...

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In this post we describe the sanctions recently imposed by Canada on Iranian individuals and entities following the detention and, according to the Canadian government, apparent killing of Mahsa Amini, an Iranian woman, in...more

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