Russia/Ukraine Sanctions Update: Canada Designates 14 More Parties
On July 11, 2014, the Government of Canada amended the Special Economic Measures (Ukraine) Regulations to add 14 more individuals to its list of "designated persons". The following designated persons were added to the list:
The total number of individuals and entities on the Russia and Ukraine sanctions lists are now:
All persons in Canada and all Canadians outside of Canada should continue to screen their transactions and conduct due diligence regarding these and over 2,000 other listed persons under Canada’s economic sanctions legislation. Subject to certain limited exceptions, it is prohibited to engage in any dealings involving the property of these persons, to provide financial or other related services to them, or to make goods available to them.
There are also reporting obligations for persons in Canada and Canadians outside of Canada who have in their possession or control property they believe is owned or controlled, directly or indirectly, by a designated person. This reporting obligation extends to information about transactions or proposed transaction in respect of such property.