Five Individuals Added to Russia Sanctions

Summary#

These final regulations add five people to Schedule 1 of the Special Economic Measures (Russia) Regulations. As of registration on March 10, 2022, those people are subject to an asset freeze and broad bans on transactions with Canadians. The change is part of Canada’s sanctions response to Russia’s invasion of Ukraine.

What it does#

• Adds these five individuals to Schedule 1 of the Special Economic Measures (Russia) Regulations:
  • Roman Arkadyevich Abramovich
  • Ella Aleksandrovna Pamfilova
  • Alisher Burkhanovich Usmanov
  • Elena Evgenievna Morozova
  • Igor Vladimirovich Yanchuk
• Subjects those named to a wide ban on dealings by Canadians. That means people in Canada and Canadian citizens abroad are generally prohibited from:
  • dealing in the property of the listed individuals,
  • entering into transactions with them,
  • providing them services or making goods available to them.
• The regulations took effect on the day they were registered: March 10, 2022, and they applied before being published in the Canada Gazette.
• The listed names will be added to Canada’s Consolidated Canadian Autonomous Sanctions List to help financial institutions and others comply.
• Enforcement authorities named include the Royal Canadian Mounted Police and the Canada Border Services Agency. Criminal penalties for knowingly breaking the rules include fines up to $25,000 or up to one year in jail on summary conviction, and up to five years on indictment.

Who's affected#

• The five individuals named above.
• Canadian banks and other financial institutions, which must update screening systems to block or report prohibited transactions.
• Canadian businesses and people who have or might try to do business with the listed individuals.
• Most Canadians are unlikely to be affected, because the government says these individuals probably have limited ties to Canada. If someone is unsure whether a specific transaction is allowed, that uncertainty can matter in practice.

Why it matters#

• The measures freeze assets and cut off financial and commercial dealings with the named people. That can stop money, goods, or services flowing to them and make it harder for them to use Canadian financial channels.
• This is part of coordinated international pressure on Russia after its invasion of Ukraine. It signals Canada’s alignment with allies and increases the economic and reputational cost for those targeted.
• For businesses and banks, it means a need to check customers and transactions against updated sanctions lists and to avoid doing restricted business with the listed people.