April 1, 2022
Canada expands sanctions on Russia, announces prohibitions on exports of goods and technology
Following the March 10 announcement of additional sanctions under the Special Economic Measures (Russia) Regulations (Regulations), from March 14 to March 24, Canada further amended the Regulations by adding 175 individuals and prohibiting the export of certain goods and technologies described in the Restricted Goods and Technologies List (Restricted List). On March 14, Canada amended the Regulations to add 15 senior officials of the Government of Russia, who are now subject to a broad dealings ban. On March 23, Canada further amended the Regulations to add 160 members of the Russian Federation Council, who are now subject to a broad dealings ban. As a result, all members of the Russian Federation Council are now sanctioned by Canada.
A Tax Alert prepared by Ernst & Young Canada, and attached below, provides additional details.
Full text of Tax Alert