Sanctions: 21 people, 53 entities, 100 ships

Summary#

These are final amendments to the Special Economic Measures (Russia) Regulations (SOR/2026-30) that came into force on February 19, 2026. They add a set of people, companies and ships to Canada’s Russia sanctions lists and lower the crude oil price cap used in those sanctions.

What it does#

• Adds 21 named individuals to the sanctions list (Schedule 1).
• Adds 53 entities (companies, research centres, special economic zones and banks) to the sanctions list (Schedule 1).
• Adds 100 vessels to Schedule 1.1 as ships believed to be part of the “shadow fleet” that help move oil, LNG and other sanctioned goods.
• Corrects the recorded build years for 8 vessels already in Schedule 1.1 (these are technical corrections).
• Moves one entity from Schedule 3 (debt-financing restrictions) into Schedule 1, subjecting it to the full range of Schedule 1 measures (a comprehensive dealings ban).
• Lowers the oil price cap in Schedule 10.01 from US$47.60 per barrel to US$44.10 per barrel.
• Establishes a transitional rule that the previous price-cap rules continue to apply for 45 days after the amendments for goods already loaded onto a ship before the amendments’ entry into force.
• Reinforces that people and companies in Canada (and Canadians abroad) must not deal with listed persons, provide them services, transfer property to them, or otherwise make goods available to them, unless an exceptional permit is granted.
• Notes that listed individuals become inadmissible to Canada under immigration law and can apply to have their names removed by asking the Minister of Foreign Affairs for delisting.

Who's affected#

• The 21 named individuals and 53 named entities added to the regulations.
• Owners, operators and users of the 100 newly listed vessels.
• Canadian banks, insurers, brokers, maritime service providers and other companies that screen customers and partners for sanctions.
• Enforcement and government bodies such as Global Affairs Canada, the Canada Border Services Agency (CBSA), the Royal Canadian Mounted Police (RCMP) and Immigration, Refugees and Citizenship Canada, which must apply and enforce the changes.
• Canadians and businesses dealing with listed persons or ships may need permits or must stop prohibited dealings.
• It is unclear from the notice whether any specific Canadian companies currently have material relationships with the newly listed persons or vessels.

Why it matters#

• The changes tighten Canada’s tools to stop people and companies from helping Russia’s war effort by freezing property, banning transactions, and denying services to those listed.
• Adding 100 ships to the list makes it easier for Canadian authorities and service providers to identify and refuse services to vessels linked to sanctions evasion.
• Lowering the oil price cap to US$44.10 per barrel is meant to reduce revenue flowing to Russia from seaborne oil sales; the government says this is unlikely to directly affect most Canadian businesses because Canada already bans direct imports of Russian oil.
• Anyone who knowingly breaks the sanctions can face criminal penalties (fines up to $25,000 on summary conviction, or imprisonment up to five years on indictment).
• For everyday readers: the amendments mean additional people, companies and ships are now off-limits for normal commercial or financial dealings with Canadians, and that Canada has tightened one tool used by international partners to limit Russia’s energy revenues.