Canada expands its Russia sanctions

12 Jan 2015 12:00 am


Posted on December 20, 2014 by Maya Lester on europeansanctions.com

Canada has announced that it is imposing asset freezing measures and travel bans on 20 more Russian and Ukrainian individuals, and new export restrictions on technologies used in Russia's oil exploration and extractive sector.  The Prime Minister made the following statement yesterday:

"Canada will not accept the illegal occupation of Crimea and persistent, provocative military activity in eastern Ukraine.  As such, we are once again announcing additional economic sanctions and travel bans against Russian and Ukrainian individuals. We are also imposing new restrictions on the export of technology used in Russia's oil exploration and extractive sector and further defining existing debt and equity financing prohibitions.

The sanctions we have taken to date, in close collaboration with our allies and partners, are putting real economic pressure on Russia to cease militarism in Ukrainian territory."

End notes

This article first appeared on European Sanctions Law & Practice (http://europeansanctions.com/), a blog by Maya Lester (+44 20 7379 3550, maya.lester@brickcourt.co.uk), a barrister at Brick Court Chambers, and Michael O'Kane (+44 (0) 20 7822 7777 mokane@petersandpeters.com), head of Business Crime at Peters & Peters.