Economic Sanctions | Tereposky & DeRose LLP

Canada Expands Economic Sanctions Against Russia

Since March, 2014, Canada has imposed economic sanctions against Russia pursuant to the Special Economic Measures (Russia) Regulations (“the Regulations”). The Regulations impose an asset freeze and dealings prohibition on designated persons, which include both individuals and entities. The Regulations also impose restrictions on the financial sector. Specifically, they prohibit dealings in certain types of debt and… Continue reading Canada Expands Economic Sanctions Against Russia

Elections in Venezuela Trigger Further Economic Sanctions by Canada

On May 20, 2018, the Venezuelan government held presidential, regional and local council elections. The electoral process and results have been rejected by Canada on the basis that they did not meet international standards. On May 29, 2018, Canada amended the Special Economic Measures (Venezuela) Regulations (the “Regulations”) to add fourteen (14) individuals to the list of… Continue reading Elections in Venezuela Trigger Further Economic Sanctions by Canada

Justice for Victims of Corrupt Foreign Officials Act Comes Into...

On October 18, 2017, the Justice for Victims of Corrupt Foreign Officials Act (also referred to as the “Sergei Magnitsky Law”), received Royal Assent. This Act introduces a new legal framework that enables Canada to impose targeted sanctions and travel bans on foreign nationals complicit in “extrajudicial killings, torture or other gross violations of internationally recognized human… Continue reading Justice for Victims of Corrupt Foreign Officials Act Comes Into…

Canada’s Consolidated Sanctions List – Life’s a Little Easier

On October 13, 2017, Global Affairs Canada published the Consolidated Special Economic Measures Act Sanctions List. This tool provides a list of the individuals and entities subject to sanctions regulations made under the Special Economic Measures Act (SEMA) in Canada. The list refers to the applicable regulations for each individual or entity, which must be consulted on a case-by-case… Continue reading Canada’s Consolidated Sanctions List – Life’s a Little Easier

Canada Imposes Economic Sanctions Against Venezuela

On September 22, 2017, Canada imposed targeted economic sanctions against Venezuela. These economic sanctions affect 40 persons (“listed persons”) that Canada has identified as responsible for the current social and economic situation in the country. Under the Special Economic Measures (Venezuela) Regulations (the “Regulations”), it is now prohibited for any person in Canada or any Canadian outside Canada… Continue reading Canada Imposes Economic Sanctions Against Venezuela

U.N. Security Council’s Resolution Toughens its Sanctions Regime against North...

On August 5, 2017, in response to the Democratic People’s Republic of Korea’s (North Korea) recent ballistic missile tests, the United Nations Security Council (UNSC) unanimously adopted resolution 2371 (resolution), toughening the already existing sanctions against North Korea. By doing so, the UNSC hopes to pressure North Korea to recommence the Six-Party Talks (between the… Continue reading U.N. Security Council’s Resolution Toughens its Sanctions Regime against North…

Parliamentary Standing Committee Calls For Improvements in Canada’s Sanctions Regime

The Standing Committee on International Affairs and International Development recently released its report entitled “A Coherent and Effective Approach to Canada’s Sanctions Regimes: Sergei Magnitsky and Beyond”. The report looks at the effectiveness of sanctions as a foreign policy tool, and considers the regulatory and administrative structures the Government of Canada has put in place… Continue reading Parliamentary Standing Committee Calls For Improvements in Canada’s Sanctions Regime

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Category: Economic Sanctions