10 People Added to Russia Sanctions

Summary#

These final regulations change the Special Economic Measures (Russia) Regulations to add 10 people to Canada’s Russia sanctions list. The rules took effect when registered on March 4, 2022 and were published in the Canada Gazette on March 16, 2022. The listed people are subject to a broad ban on financial dealings and services from Canadians.

What it does#

• Replaces Section 2.1 to clarify that people named in Schedules 2 and 3 include persons owned, controlled by, or acting on behalf of listed persons or Russia.
• Adds 10 individuals to Schedule 1. The new names are:
  • Zeljko RUNJE
  • Didier CASIMIRO
  • Ilgam KUCHUKOV
  • Dina Rinatovna MALIKOVA
  • Valentin Gennadyevich MAMAEV
  • Andrey Aleksandrovich POLYAKOV
  • Khasan Kureyshevich TATRIEV
  • Alexey Borisovich MILLER
  • Irina Nikolayevna MILYUTINA
  • Oleg Yevgenyevich AKSYUTIN
• Anyone in Canada, and Canadians outside Canada, is generally prohibited from dealing in the property of, entering into transactions with, providing services to, or otherwise making goods available to these listed people.
• The amendments allow the government to keep aligning sanctions with international partners and to use permits in limited cases where a specific transaction is authorized.

Who's affected#

• The 10 newly listed individuals named above.
• Canadians and people in Canada who might have financial or business dealings with those individuals.
• Canadian banks and other financial institutions, which must screen customers and block transactions involving the listed people.
• Businesses or people who might seek a permit from Global Affairs Canada to carry out otherwise prohibited activities.
• Enforcement agencies: the Royal Canadian Mounted Police and the Canada Border Services Agency will enforce the rules.

Why it matters#

• For the listed people it means their assets and business dealings with Canadians can be frozen or blocked.
• For Canadians and businesses it creates legal restrictions: transactions, services, or transfers involving the listed people are generally banned unless a permit is granted.
• Financial institutions will need to update compliance systems, which may cause minor costs.
• The measures are part of Canada’s response to the Russian invasion of Ukraine that began on February 24, 2022, and are designed to increase economic pressure and show alignment with allies.
• Breaking the rules can lead to penalties: a fine of up to $25,000 or imprisonment for up to 1 year on summary conviction, or up to 5 years on indictment.