160 Russian Officials Added to Sanctions

Summary#

These final regulations, Regulations Amending the Special Economic Measures (Russia) Regulations, add 160 people to Canada’s Russia sanctions list. They extend Canada’s ban on dealing with those listed and came into force on March 23, 2022 (published in the Canada Gazette on April 13, 2022).

What it does#

• Adds 160 named individuals to Schedule 1 of the Special Economic Measures (Russia) Regulations. The full list of names appears in the Canada Gazette and on Canada’s sanctions lists.
• Clarifies that the ban covers dealings in property and the making available of goods or services to listed people “wherever situated” (i.e., no geographic limit).
• States the regulations apply from the day they were registered (so they were effective before the Gazette publication).
• Says the names will be added to the Consolidated Canadian Autonomous Sanctions List to help banks and businesses comply.

Who's affected#

• The 160 newly listed people (identified in the Gazette), who are described as members of Russia’s Federation Council.
• Canadian banks and financial institutions, which must screen for and block transactions involving listed people.
• Canadian businesses and individuals who might otherwise do business with those listed — they are now generally prohibited from dealing with them.
• Enforcement agencies such as the Royal Canadian Mounted Police and the Canada Border Services Agency, and the department handling policy and listings, Global Affairs Canada.

Why it matters#

• It imposes an asset freeze and transaction bans on the newly listed people. That can stop them from using money, property, or services in Canada.
• The measure is part of Canada’s response to Russia’s invasion of Ukraine and is meant to align Canada with allies taking similar steps.
• For everyday Canadians the impact is mostly on banks and businesses: institutions must update screening systems and may deny transactions. Direct effects on most Canadian citizens or small businesses are expected to be minimal unless they have ties to the listed people.
• Breaking the bans can carry criminal penalties: upon summary conviction a fine up to $25,000 or imprisonment up to one year, or upon indictment imprisonment up to five years.