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March 4, 2022

Canada imposes new sanctions on Russia, ceases issuance of export permits for exports of goods to Russia

The Government of Canada on February 24 announced the imposition of additional sanctions under the Special Economic Measures (Russia) Regulations and the Special Economic Measures (Ukraine) Regulations, in response to ongoing situation in Ukraine. In addition, exports to Russia are restricted by halting new export permit applications and cancelling valid existing export permits, with certain exceptions.

A Tax Alert prepared by Ernst & Young Canada, and attached below, provides additional details.


Full text of Tax Alert