On June 19, 2023, Canada announced further amendments to the Special Economic Measures (Iran) Regulations (the “Regulations”) in response to Iran’s “gross and systematic violations of human rights in different branches of Iran’s Revolutionary Courts”. These amendments list an additional seven individuals under Schedule 1 of the Regulations and entered into force on June 19, 2023. There are now over 300 parties listed under Schedule 1 of the Regulations. The newly listed individuals are judges…
On June 13, 2023, Canada announced amendments to the Special Economic Measures (Haiti) Regulations (the “Regulations”) in response to “acts of significant corruption”. These amendments list an additional two individuals under the Schedule of the Regulations and took effect on June 13, 2023. There are now twenty-one individuals listed under the Schedule of the Regulations. All of the newly listed individuals are members of the economic and political elite who have been “implicated in egregious…
On June 10, 2023, Canada announced additional amendments to the Special Economic Measures (Ukraine) Regulations (the “Ukraine Regulations”) in response to “Russia’s attempts to destroy Ukraine’s cultural sites, institutions and identity” and Canada ordered the seizure of a Russian-registered cargo aircraft pursuant to its new authority under the Special Economic Measures Act (the “SEMA”). Amendments to Ukraine Regulations The amendments list an additional 24 individuals and 17 entities under Schedule 1 of the Ukraine Regulations…
Last week, Canada announced two sets of amendments to the Special Economic Measures (Russia) Regulations in coordination with its allies at the G7 Summit in Japan. Additionally, the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) updated its April 2022 guidance on Russia-related anti-money laundering (AML) and sanctions evasion risks and the U.S. Office of Foreign Asset Control (OFAC) added a number of Canadian companies to its Specially Designated Nationals list (SDN List). Amendments…