In order to maintain the efficacy of existing sanctions until Russia fully complies with its international obligations with respect to Ukraine, the Special Economic Measures (Russia) Regulations have been amended to list 10 additional entities and two additional individuals in Schedule 1 that are subject to an asset freeze and dealings prohibition. The Russia Regulations have also been amended to expand the category of entities that may be subject to sanctions under Schedule 1. In addition, the Special Economic Measures (Ukraine) Regulations have been amended to list four additional entities and three additional individuals that are subject to an asset freeze and dealings prohibition.
Sanctions are more effective when applied in coordination with partners. Canada’s new measures align with recent actions taken by the United States and the European Union. They are designed to maintain the efficacy of existing sanctions measures, to underscore continued transatlantic unity in responding to Russia’s actions on Ukraine, to maintain pressure on Russia to fully implement its Minsk commitments and to demonstrate our commitment to a policy of non-recognition of Russia’s illegal annexation of Crimea.
“Today’s steps support wider international efforts to seek a diplomatic resolution to the crisis in Ukraine. By engaging with Russia on the one hand and demonstrating our firm resolve on sanctions on the other, we strengthen our collective ability to hold them to account. I have instructed Global Affairs Canada to update engagement policies accordingly. As agreed by G7 leaders, Canada believes sanctions should not be lifted until Russia fully implements its commitments under the Minsk agreements.”- Stéphane Dion, Minister of Foreign Affairs