14 Individuals Added to Russia Sanctions

Summary#

These final regulations amend the Special Economic Measures (Russia) Regulations by adding 14 named individuals to the list of people who are blocked from dealings with Canadians, and by removing 2 duplicate entries. The regulations were registered on April 19, 2022 and published in the Canada Gazette on May 11, 2022.

What it does#

• Adds the following 14 people to Part 1 of Schedule 1 (they become subject to Canada’s dealings prohibitions):
  • Petr Olegovich AVEN
  • Oleg Viktorovich BOYKO
  • Mikhail Maratovich FRIDMAN
  • Mikhail Safarbekovich GUTSERIEV
  • Igor Viktorovich MAKAROV
  • Elvira Sakhipzadovna NABIULLINA
  • Sergey ROLDUGIN
  • Alexander TORSHIN
  • German Borisovich KHAN
  • Alexander PONOMARENKO
  • Katerina Vladimirovna TIKHONOVA
  • Maria Vladimirovna VORONTSOVA
  • Maria Aleksandrovna LAVROVA
  • Yekaterina Sergeyevna VINOKUROVA
• Removes Items 50 and 235 from Schedule 1 because they were duplicate listings.
• People and entities added to Schedule 1 face a broad “no dealings” rule: their property in Canada is effectively frozen and Canadians (and people in Canada) are barred from transactions with them unless explicitly permitted.
• The names will be added to the Consolidated Canadian Autonomous Sanctions List so banks and other organizations can identify them.

Who's affected#

• Canadians and anyone in Canada who might do business or hold assets involving the listed people. They must not deal in the property of, or provide services to, those listed unless a permit allows it.
• Banks and financial institutions will need to update monitoring systems and may face minor compliance costs.
• Businesses applying for permits for activities that would otherwise be blocked could see extra paperwork or costs, though the government says small businesses are unlikely to be significantly affected.
• The listed individuals themselves (the 14 named above) are directly affected by freezing of assets and transaction bans.
• Enforcement is handled by the Royal Canadian Mounted Police and the Canada Border Services Agency.
• The source notes two duplicate listings were removed but does not name who those two individuals were.

Penalties for knowingly ignoring the rules include a fine of up to $25,000 or imprisonment for up to one year on summary conviction, or imprisonment for up to five years on indictment.

Why it matters#

• This is part of Canada’s wider sanctions response to Russia’s invasion of Ukraine (which began on February 24, 2022) and aims to restrict the listed people’s access to Canada’s financial system and services.
• For most Canadians the change will be invisible day-to-day, but banks, exporters and any business that deals internationally should screen for these names to avoid breaking the law.
• The amendments signal continued alignment with allies and add targeted economic pressure on individuals seen as supporting or benefiting from Russia’s actions in Ukraine.