What are the impacts of the sanctions on Russia for Canadian companies?

In response to the seriousness of Russia’s violation of Ukraine’s territorial integrity, as well as the serious human rights violations that have been committed, Canada has amended the Special Economic Measures (Russia) Regulations (SEMR) on several occasions to expand the scope of economic sanctions against Russia. Since February 2022, the number and scope of these economic sanctions have increased significantly.

If you or your company has business ties with someone on Canada’s Russia Sanctions List, keep in mind that Canada’s economic sanctions could apply to you as well.