On October 17, 2022, Canada announced further sanctions related to Russia, building on its existing measures. An additional thirty-four individuals and one entity believed to be “agents of Russian propaganda” and their family members, as well as “influential individuals spreading disinformation”, have been designated under Schedule 1 of the Special Economic Measures (Russia) Regulations (the “Regulations”). These measures came into force on October 14, 2022.
Generally speaking, designation under Schedule 1 of the Regulations imposes an asset freeze and dealings prohibition against the designated person. Subject to limited exceptions, any person in Canada or any Canadian outside Canada cannot:
- deal in any property, wherever situated, that is owned, held or controlled by or on behalf of a designated person whose name is listed in Schedule 1;
- enter into or facilitate, directly or indirectly, any transaction related to such a dealing;
- provide any financial or other related services in respect of such a dealing;
- make available any goods, wherever situated, to a designated person listed in Schedule 1 or to a person acting on their behalf; or
- provide any financial or related service to, or for the benefit of, a designated person listed in Schedule 1.
Due to ongoing developments in the region, Canada may announce and implement further measures in alignment with its allies.
An unofficial copy of the legislative amendments to the Special Economic Measures (Russia) Regulations that came into effect on October 14, 2022 are available on Global Affairs Canada’s website at here.
