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…

On June 1, 2023, Canada enacted the Special Economic Measures (Moldova) Regulations (the “Regulations”) in response to Russia’s ongoing war of aggression against Ukraine. The Regulations are targeted sanctions, which will serve to undermine Russia’s influence over Moldova and reaffirm its commitment to continue to use its sanctions regime to target foreign states that are supporting Russia’s war in Ukraine. The Regulations entered into force on May 30, 2023 and list seven individuals and one…

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…