On February 17, 2015, the Government of Canada announced that new entities and individuals in Russia and Ukraine have been designated under Canada's sanctions laws. These new measures are introduced in coordination with the United States and the European Union, and are in response to the ongoing conflict in Ukraine.
The list of new entities and individuals designated under the Special Economic Measures (Ukraine) Regulations is available here.
The list of new entities and individuals designated under Schedule 1 to the Special Economic Measures (Russia) Regulations is available here.
Russian energy company Rosneft has also been designated under Schedule 3 to the Special Economic Measures (Russia) Regulations.
Every person in Canada and every Canadian outside Canada are subject to specific prohibitions and reporting obligations in respect of their dealings with the newly designated entities and individuals, and will need to add the new designations to their existing sanctions screening processes and controls.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.