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  • 03 Jun 2022 5:01 PM | Vera Dedyulya (Administrator)

     

    Canada has implemented another two rounds of sanctions against Russia. These latest amendments to the Special Economic Measures (Russia) Regulations  (“Russia Regulations”) came into force on May 18 and May 27, 2022. The respective Regulations can be found on the Canadian Sanctions web page here and here (“Regulations”). In its May 20, 2022 news release, Global Affairs Canada states that the newly adopted measures, including further expansion of the sanctioned persons list and bans on luxury goods and goods that could be used in the manufacture of weapons, are aimed at maintaining pressure on the Russian regime until it is no longer able to wage war, and mitigating the potential for Russian oligarchs to circumvent sanctions.

    36 individuals added to the sanctioned persons list

    The list of sanctioned persons in Schedule 1 of the Russia Regulations has been expanded with the addition of 36 individuals and four entities. The entities, all operating in Russia’s financial services sector, are:

    • Management Company of the Russian Direct Investment Fund JSC
    • RVC Management Company LLC
    • Russian Agricultural Bank JSC
    • Investtradebank JSC

    The new group of designated individuals is mostly comprised of Russian pro-Kremlin oligarchs, including their wives, children, ex-wives, and in-laws. Notably, Canada listed Alina Kabaeva, who is reportedly the girlfriend of Vladimir Putin. It also targets family members of Vladimir Putin’s closest ally Gennady Timchenko, including Mr. Timchenko’s wife, two daughters, and his son-in-law. Several family members of Mikhail Fridman are also listed. Further, the new list includes several Sberbank, VTB, and Gazprombank executives.

    The Russia Regulations prohibit a very wide range of activities involving listed individuals and entities, including dealings in property owned, held or controlled by or on behalf of listed persons, directly or indirectly facilitating transactions related to such dealings, and providing financial or related services for the benefit of listed persons.

    Bans on luxury goods 

    The new provisions prohibit any persons in Canada or Canadians outside Canada from exporting, selling, supplying, or shipping goods referred to in Part 1 of Schedule 6, wherever situated, to Russia or to any person in Russia. They also prohibit persons in Canada and Canadians outside Canada from importing, purchasing or acquiring goods referred to in Part 2 of Schedule 6, wherever situated, from Russia or from any person in Russia. These prohibitions will take effect 60 days after they come into force, i.e., by July 26, 2022.

    Importantly, the scope of these prohibitions are not limited to imports into and exports from Canada. They also apply to the supply or sourcing of these products anywhere in the world to or from “Russia or any person in Russia”.

    There is an exception for personal effects taken by individuals leaving Canada for Russia as well as individuals leaving Russia that are solely for their and their immediate families’ use.

    We note that the lists of so-called “luxury” goods that are banned for supply and sourcing purposes are not identical, with the sourcing list being significantly shorter than the supply list (26 entries versus 257 entries respectively). The items on the sourcing ban list encompass mostly seafood items including caviar, liquor (including vodka), and diamonds. The items on the supply ban list are comprised of broader categories of goods, including alcoholic beverages, tobacco and cigarettes, cosmetics, handbags, fur skins, fabrics such as silk, textile products including carpets, sportswear, footwear, luxury clothing and accessories, jewelry, kitchenware, vehicles and art.

    The supply and sourcing ban on these goods to and from Russia could potentially have a noticeable impact on affected industries. Global Affairs Canada estimates that together the banned categories represented trade in $75.7 million worth of goods in 2021, and this does not appear to account for any supply or sourcing activities by Canadians in addition to imports into or exports from Canada.

    These bans bring Canadian sanctions closer in line with those of the United States and the European Union, both of which banned exports of luxury goods to Russia and import of certain items from Russia in March 2022 (see EU Regulation 2022/428 and US Executive Order 14068).

    Ban on supply of goods that could be used for manufacture of weapons 

    The Russia Regulations also contain a broad supply prohibition on various goods that could be used for weapons manufacturing. The export, sale, supply, or shipment of any good referred to in Schedule 7, wherever situated, to Russia or to any person in Russia is now prohibited.

    Schedule 7 lists 60 diverse categories of goods, including medical devices such as X-rays or artificial respiration or other therapeutic respiration apparatuses, measuring instruments, photographic equipment, thermostats, ships, boats and floating structures, unmanned aircrafts, vehicles, electrical machinery, industrial robots, equipment used in construction, metals and scrap metals, pumps, etc. Notably, it does not appear necessary that these items be specially designed for weapons production or military use in order to be subject to the supply ban. Accordingly, suppliers of any of the listed goods should be carefully reviewing these requirements before shipping to Russia or persons operating in or from Russia.

    This list should not be confused with the restricted goods and technologies set out in the Restricted Goods and Technologies List adopted in March 24, 2022. That list also prohibits the supply of a broad range of uncontrolled items, including those in the areas of electronics, computers, telecommunications, navigation and avionics, and marine and aerospace items from export to Russia (see our previous alert on this topic here).

    Continue to monitor developments

    As Russia’s invasion of Ukraine appears to continue without abatement, we anticipate further expansion of the Russian sanctions programs of both Canada and its allies. We continue to closely monitor these developments. We also anticipate that the Canadian government will release long-awaited guidance on the existing sanctions measures.

    Read the article here >>

  • 15 Apr 2022 11:49 AM | Vera Dedyulya (Administrator)

    The latest updates include:

    • Export and Import Bans
    • Export and Import Restrictions
    • Banks and payment systems
    • Russian Response
    • Key elements to manage the entity's liquidity & solvency
    Presentation available at the next  link >>


  • 09 Apr 2022 12:26 PM | Vera Dedyulya (Administrator)


    24 kilometres from Kyiv, the town of Bucha, Ukraine, quickly became a frontline in the Ukrainian effort to resist Russian invasion. Russian forces began to withdraw from the region around March 30, purportedly due to resource shortages. Journalists have since gained access to the town and have taken account of what appear to be atrocities involving the killing of civilians. The mayor of Bucha has indicated that over 300 residents have been killed. The Bucha massacre has led to additional discussions around Russian war crimes by the UN Security Council.

    With this as backdrop, Canada and several allies continue to increase economic pressure on Russia and its enablers by taking aim at “close associates” of the Russian and Belarusian government for having “facilitated and enabled violations of Ukraine’s sovereignty, territorial integrity and independence”. New Canadian measures which appear to have been prepared prior to the Bucha massacre formally took effect on April 5. Canada’s Foreign Affairs Minister Melanie Joly confirmed the measures demonstrate that “Canada will not relent in holding Vladimir Putin and his enablers accountable for their egregious and illegal actions”.[1]

    Canada’s international counterparts have responded to the Bucha massacre

    On April 6, the United States announced new sweeping sanctions against Russia directly resulting from the Bucha massacre, that target Putin’s two adult daughters and the wife and daughter of Sergei Lavrov, Russia’s foreign minister, and impose full blocking sanctions on Russia’s largest financial institution (Sberbank) and its largest private bank (Alfa Bank), as well as their subsidiaries.[2] These new blocking sanctions on Russian banks bring the United States into closer alignment with Canadian measures against Russian banks.

    The United States also prohibited all “new investments” in the Russian Federation by U.S. persons, though we note that “new investment” is not defined in U.S. President Biden’s Executive Order.[3] Canada may follow suit on this in the days to come.

    The United Kingdom further announced it would freeze the assets of Sberbank, and will ban imports of Russian coal by the end of 2022. Outward investments to Russia (worth over $14.4 billion in 2020) will also be prohibited, along with the export of key oil refining equipment and compounds.

    Meanwhile, the EU Commission proposed a fifth package of sanctions on April 5, including a prohibition on the import of all types of coal from Russia (worth approximately €4 billion per year), a full dealings ban on four large Russian banks including VTB, as well as export bans and a broader package of measures that would further control trade with Russia.[4] EU ambassadors are presently in the process of meeting to reach a final agreement on the package, including the whether the ban on coal would affect existing contracts or be subject to a phase-in measure.[5]

    The new sanctions further add to Canada’s ever-expanding list of designated persons in Russia and Belarus

    In Canada, new sanctions took effect on April 5, 2022 by way of amendments to the Special Economic Measures (Russia) Regulations (“Russia Regulations”) and to the Special Economic Measures (Belarus) Regulations (“Belarus Regulations”). A total of 18 additional individuals were added to the Russia and Belarus Regulations Schedule 1 lists, which now total 726 individuals and 136 entities for Russia and 50 individuals and 25 entities for Belarus with whom any person in Canada and any Canadian outside of Canada are largely prohibited from “dealing”, including in respect of listed individuals’ property, the provision of financial and related services, and the provision of goods. Another 206 individuals and 42 entities are listed for Ukraine.

    Notable additions to the Russia Regulations list include Viktor Vekselberg, Chairman of Russian conglomerate Renova Group, and a Ukrainian-born Russian-Cypriot multi-billionaire oligarch. Vekselberg is known for his close ties to the Kremlin, having overseen a number of projects to modernize the Russian economy. On April 4, U.S. authorities accused Vekselberg of conspiring to commit bank fraud and money laundering in the negotiations and purchase of a $90 million mega-yacht, which was seized pursuant to a U.S. FBI warrant and executed in Spain.[6] U.S. sanctions also target Vekselberg’s private jet.

    Canada also added to its sanctions list Vladimir Potanin, one of the main shareholders in Norilsk Nickel, and Leonid Mikhelson, the founder, chairman and co-owner of natural gas producer Novatek.

    Read more >>


    Authors

    1. John W. Boscariol
    2. Martha Harrison
    3. Ljiljana Stanic
    4. Ashley Taborda
  • 06 Apr 2022 9:42 AM | Vera Dedyulya (Administrator)

    The international mineral exploration and mining industry is once again gearing up for the annual Prospectors & Developers Association of Canada’s (PDAC) Convention in Toronto, following its first virtual convention in 2021. 

    This year signifies the return of the in person event from June 13-15, as well as an online portion from June 28-29. This is the first time in the PDAC Convention’s 90 years that it will be offered as a hybrid event, and a fitting way to honour the milestone.

    “The pandemic has had us on a rollercoaster over the past couple of years and the feedback we are consistently hearing from our stakeholders is that they want to get back to doing business in person, and for anyone connected to the mineral exploration and mining industry, that means getting together face to face for the PDAC 2022 Convention” said Alex Christopher, PDAC President. 

    While the pandemic created challenges, it also demonstrated the resilience of the sector as it navigated health and safety, accessibility and supply chain obstacles, while conversations turned to the security of precious metals and the industry’s role in the transition to a low carbon future.

    “We have watched precious metals and gold prices soar to record highs, applaud conversations recognizing the industry’s critical role in the clean energy transition, and throughout the pandemic have watched companies offer support to Indigenous and remote communities where it may otherwise have not existed,” added Mr. Christopher. 

    “This is just a small glimpse into the importance of the minerals industry, and as the world reopens, professionals—including analysts, executives, geologists, prospectors, investors, students and government officials—need timely and relevant programming and short courses that can be tailored to their needs, and the PDAC 2022 Convention offers exactly that.”

    The PDAC Convention provides a platform for experts to connect and talk, learn and collaborate about the opportunities and challenges faced by the industry. 

    Highly-acclaimed topics—such as Capital MarketsIndigenousStudent & Early CareerSustainability and Technical—will return to in person and online programming, along with Short Courses, the seventh annual International Mines Ministers’ Summit (IMMS), Events & Networking, and a newly expanded Keynote Program for experts to present on commodities, the mineral outlook, innovation and new discoveries. 

    More than 800 exhibitors will display their expertise and latest core samples in Core ShackInvestors ExchangeProspectors Tent and Trade Show.

    But the excitement is not limited to only in person with an outstanding lineup of programming scheduled for the online portion. 

    “It is important that we can offer the online portion of PDAC 2022 for a very important group of stakeholders across the world who want access to information directly from their home or office, and we are excited to be able to give them that,” said Lisa McDonald, PDAC Executive Director.

    “But it is the in person element that is being craved this year and we can’t wait to welcome the world’s mineral exploration and mining industry to PDAC 2022 after all this time, we’ve certainly missed everyone.”

    For the latest information on #PDAC2022 head to www.pdac.ca/convention.


    The health, safety and wellness of attendees remains PDAC’s top priority and Canadian and local government directives will be followed at all times. Visit the COVID-19 Information Page for latest updates.

     

  • 30 Mar 2022 9:43 AM | Vera Dedyulya (Administrator)


    One month following the invasion of Ukraine, as the world continues to pressure Russia to end its illegal war, Canada has implemented a further slate of sanctions and supply and technology transfer prohibitions. These are contained in amendments to its Special Economic Measures (Russia) Regulations (the “Russia Regulations”) which came into force on March 14 (the “March 14 Amendment”), March 23 (the “March 23 Amendment), and March 24, 2022 (the “March 24 Amendment). 

    We discuss previously-introduced measures in our client alerts Canada joins international counterparts in responding to Russia’s “fundamental challenge to the world order” with economic sanctions (February 28, 2022), Canada publishes third and announces fourth round of sanctions for Russia, with new sanctions expected imminently for Belarus (March 2, 2022), and Canada continues to expand scope of Russian sanctions, including by issuing amendments to Belarus regulations (March 14, 2022).

    175 individuals added to the sanctions list

    15 senior officials in the Russian government were added to the list of designated persons by the March 14 Amendment and are now subject to a broad dealings ban. The March 23 Amendment listed an additional 160 of the Russian Federation Council (all of the members who had not yet been listed), bringing the total number of individuals listed under Part 1 of Schedule 1 to 717. Together with the nine individuals listed under Part 1.1 for gross human rights violations and the 132 entities listed under Part 2, there are 858 designated persons listed under Schedule 1, to whom a broad dealings provision applies. Four financial entities remain listed under Schedules 2 and 3 and are subject to restrictions or prohibitions relating to new debt and equity financing.

    The Canadian government’s summary of the sanctions applied following Russia’s invasion of Ukraine highlights the significant number of entities and individuals, now in excess of one thousand, subject to Canadian sanctions as follows:

     

    Expansion of the dealings prohibition

    The scope of the section 3 dealings ban was also expanded by the March 23 Amendment with the addition of language to prohibit dealings in any property “owned, held or controlled by or on behalf of a designated person” (paragraph 3(a)) and to prohibit making any goods available “to a designated person listed in Schedule 1 or to a person acting on their behalf” (paragraph 3(d)).

    These changes update the language of section 3, bringing it into accord with the text of newer regulations issued under the Special Economic Measures Act, including the Special Economic Measures (Belarus) Regulations and the Special Economic Measures (People’s Republic of China) Regulations.

    In addition, the section 5 prohibition against any person in Canada or any Canadian outside Canada knowingly doing anything that causes, facilitates or assists in any activity was expanded by the March 14 Amendment to capture the section 3.5 ban on petroleum goods listed in Schedule 5, added by amendment on March 10, 2022.

    Broad supply ban on “restricted” goods and technologies

    The March 24 Amendment introduced a new broad supply ban on so-called restricted goods and technologies as set out in the Restricted Goods and Technologies List (the “List”) prepared by the Department of Foreign Affairs, Trade, and Development.

    Generally speaking, the List includes a broad range of items in the areas of electronics, computers, telecommunications, sensors and lasers, navigation and avionics, marine, aerospace, and transportation. The Canadian government has noted that the ban was implemented in an effort “to deny Russia access to goods and technology that could benefit their military”.

    This wide prohibition, set out in the new section 3.6, forbids any person in Canada and any Canadian outside Canada from exporting, selling, supplying or shipping any good on the List, wherever situated, “to Russia or to any person in Russia.”  There is also a prohibition against providing to Russia or to any person in Russia any technology that is described on the List.

    As discussed further below, it is important to distinguish this from the Canadian government’s February 24, 2022 decision to terminate all existing permits for the export, transfer and brokering of controlled goods and technology to Russia and ban the issuance of any new permits for such activity (described further in our earlier update). This earlier measure only relates to goods and technology listed under Canada’s Export Control List  (the “ECL”).

    What is covered? 

    Notably, the List issued by the Canadian government makes reference to goods and technologies by what appear to be US Export Control Classification Numbers or “ECCNs”, specifically those in the 991, 992, 993 and 994 series, and subject to controls by the United States under its Export Administration Regulations and Commerce Control List. These are items that are not listed on Canada’s ECL.

    This appears to be an effort by the Canadian government to align its export restrictions with those of its allies, since the Canadian export permit ban implemented on February 24, 2022, did not cover certain sensitive items that Russia relies on for its defence, aerospace, and maritime industries that had been banned for export by other countries, including the United States.

    The List encompasses a broad swath of equipment, including components thereof, as well as related software and technology, such as:

    • electronic equipment, devices and components;
    • specific processing and testing equipment;
    • “program” proof and validation “software,” “software” allowing the automatic generation of “source codes,” and operating system “software” specially designed for “real-time processing” equipment;
    • telecommunication equipment;
    • marine or terrestrial acoustic equipment;
    • optical sensors and filters;
    • lasers;
    • “magnetometers”, “superconductive” electromagnetic sensors;
    • radar systems;
    • navigation equipment;
    • vessels, marine systems or equipment;
    • aircrafts and gas turbine engines;
    • software and technology for the “development,” “production” or “use” of the above.

    The new section 3.6 also specifically exempts certain goods and technologies that would otherwise be subject to the supply ban. These include goods for use in support of international nuclear safeguards verifications, goods for use in relation to the activities of the International Space Station, consumer communication devices (computers, printers, hard disks, mobile phones, etc.), personal effects exported by individuals for their use or the use of their immediate family, certain goods stored on board of an aircraft or ship, software updates for end-users that are civilian entities owned or controlled by Canadians or nationals of a partner country, and goods temporarily exported for use by a representative of the media from Canada or from a partner country. The list of partner countries encompasses 33 jurisdictions, including the EU member states, the United States, the United Kingdom, as well as Australia, Japan, New Zealand, and South Korea.

    The supply ban is broader than export controls

    Significantly, the new supply ban on goods and technologies identified on the List is much broader than the restriction applied to controlled goods and technology listed on the ECL. Canada’s Export and Import Permits Act is generally understood to only prohibit the unauthorized export or transfer of ECL items from a place in Canada to a place outside Canada. 

    In contrast, the new supply ban under the Russia Regulations has extraterritorial effect as it applies to all exports, sales, supplies, and shipments of items on the List from anywhere in the world to Russia or to any person in Russia. Canadian entities and individuals involved in supplying or transferring goods, services or technologies to Russia or persons in Russia will be captured within the scope of this sanctions measure even if the transactions do not involve any exports from Canada. Accordingly, the List should be carefully reviewed by anyone engaged in dealings directly or indirectly involving Russia whether those activities occur in or outside of Canada.

    Continue to closely monitor developments

    We anticipate that additional economic sanctions against Russia, coordinated with Canada’s allies, will be forthcoming as Russia continues its aggressive invasion of Ukraine. It is also anticipated that the Canadian government will be releasing long-awaited guidance on the application and interpretation of these sanctions measures.

    Businesses should continue to monitor these developments closely as they are having a significant impact on sanctions risk exposure arising from activities both within and outside Canada.

  • 14 Mar 2022 10:40 AM | Vera Dedyulya (Administrator)
     

    As the Russian invasion of Ukraine enters its second week, Canada continues to intensify pressure on the Russian government and the supporters of its illegal invasion of Ukraine through additional rounds of economic sanctions. Previously implemented measures are addressed in our February 28, 2022 and March 2, 2022 client alerts.

    Further additions of individuals and entities to the Russia sanctions

    Since March 2, 2022, 32 entities and 25 individuals have been added to Schedule 1 of the Special Economic Measures (Russia) Regulations (the “Russia Regulations”) by means of amendments effective March 4,[1] March 6,[2] and March 10, 2022,[3] As a result, Canadian companies and nationals are now prohibited from engaging in or facilitating a wide range of activities involving approximately 1,000 entities and individuals currently listed under Canada’s Russia and Ukraine-related sanctions.

    The latest round of measures targeting Russian individuals include Oleg Deripaska, the founder of one of Russia’s largest industrial groups, and Roman Abramovich, another prominent oligarch who, among other things, owns 28.64% of the shares of Evraz PLC,[4] a steel producer with a significant Canadian presence and number of active steel production sites in Western Canada. Abramovich and others were sanctioned “for their complicity in President Putin’s choice to invade a peaceful and sovereign country”.[5] The newly listed entities, sanctioned for “their role in enabling or supporting President Putin’s unprovoked and unjustified invasion of Ukraine”,[6] include a number of shipbuilding, aeronautics and other defence enterprises, as well as research institutions and government agencies including the Foreign Intelligence Service.

    Read more

    Authors John W. BoscariolMartha HarrisonLjiljana StanicAshley Taborda


  • 09 Mar 2022 11:30 AM | Vera Dedyulya (Administrator)

    Like you, we continue to monitor the situation in Ukraine closely, providing as much support as possible to our teams. It is a very unsettling and concerning time for many and we appreciate that having access to timely and pragmatic advice is critical.  We recognize the breadth of issues you are faced with, which is why our global teams, together with Dentons Global Advisors have joined together to provide you with:

    • global hub on www.dentons.com containing all the insights and latest news available from Dentons across multiple markets – on a range of issues including sanctions, immigration and employment issues, financing and force majeure
    • A global webinar program (list below) covering a range of topics to support your organization's decision making at this time.

    Click here to Register

    Please feel free to share details of this webinar program with your colleagues.

    Webinars available to you:

    Leading through a crisis – what General Counsel & leaders need to know
    Hear from GCs as well as crisis communication specialists and geo-political advisors

    Friday 11 March 2022
    10am ET/ 3pm GMT/ 4pm CET/ 5pm SAST

    Sanctions latest: global insights from sanctions advisors
    Monday 14 March 2022

    10am ET/ 3pm GMT/ 4pm CET/ 5pm SAST

    Restructuring in time of crisis
    Tuesday 15 March 2022
    10am ET/ 3pm GMT/ 4pm CET/ 5pm SAST

    Managing employees through the crisis: latest insights from across Europe, Canada, UK and US
    Learn about the legal challenges being faced relocating employees, amending contracts and similar

    Thursday 17 March 2022
    10am ET/ 3pm GMT/ 4pm CET/ 5pm SAST

    Supply chain and trade issues (not sanctions): case studies and practical insights
    Monday 21 March 2022

    10am ET/ 3pm GMT/ 4pm CET/ 5pm SAST

    Presenting Q1 earnings to the market and other stakeholders
    Dentons’ NYC-based SEC lawyers and Dentons Global Advisors shareholder communications professionals will discuss how companies are gearing up to present Q1 earnings to the market in this challenging time and will stress test many investor relations narratives.
    Tuesday 22 March 2022
    10am ET/ 3pm GMT/ 4pm CET/ 5pm SAST

    Consumer goods and retail: stock take on current issues and solutions
    Wednesday 23 March 2022

    10am ET/ 3pm GMT/ 4pm CET/ 5pm SAST

    Click here to Register

    If you have any questions about this webinar series or topic matter, recordings and so forth, please email: cxprogram@dentons.com

  • 07 Mar 2022 3:33 PM | Vera Dedyulya (Administrator)

    Government of Canada has put new measures in place to help people affected by the ongoing situation in Ukraine. 

    Provided services:

    • urgently processing new and replacement passports and travel documents for citizens and permanent residents of Canada in Ukraine, so they can return to Canada at any time 
    This includes immediate family members who will come with them.

    This means people who get a job offer can stay in Canada and start working while their work permit application is processed.

    More information and the latest updates are available at the next link >>

  • 04 Mar 2022 2:29 PM | Vera Dedyulya (Administrator)

    As the military action in Ukraine intensifies, Canada continues to impose pressure upon Russia by way of, among other things, economic sanctions.

    As described in detail in our client alert of February 28, 2022, Canada published its first two rounds of sanctions applicable to each of Russia and Ukraine on February 24, 2022 and announced a third round of sanctions for Russia on February 25, 2022, which Prime Minister Justin Trudeau indicated would target Russian President Vladimir Putin, his former chief of staff Sergei Ivanov, and Russian Foreign Minister Sergei Lavrov. Canada also announced additional sanctions for Belarus, targeting 57 individuals, for aiding Russia’s invasion of Ukraine.[1]

    On March 1, 2022, Canada published two further amendments to the Special Economic Measures (Russia) Regulations (the “Russia Regulations”),[2] and on March 2, 2022, announced its fourth round of sanctions for Russia, focusing on the Russian energy sector.[3]

    The amendments for Belarus, announced on February 25, 2022, remain forthcoming.

    New Russian sanctions target 18 members of Russia’s Security Council, including President Putin

    In an amendment effective February 28, 2022,[4] Canada added an additional 18 individuals to Schedule 1 of the Russia Regulations, to which listed persons the general dealings prohibitions apply. This bring the total number of listed persons in Schedule 1 of the Russia Regulations to 520 — up from 130 (or 300%) before the two February 24, 2022 amendments were published (see our February 28, 2022 client alert for specifics on those amendments).

    According to the Canadian government’s website, these individuals are “members of the Security Council of the Russian Federation responsible for these actions, including President Vladimir Putin, Foreign Minister Sergei Lavrov, Minister of Defence Sergei Shoigu, Minister of Justice Konstantin Chuychenko, and Finance Minister Anton Siluanov”.[5]

    Authors John W. BoscariolLjiljana StanicAshley Taborda

    Read more