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Canada's Economic Sanctions Against Ukraine and Russia Extended to Additional Individuals and Entities; Oil & Gas Technology Sanctions Expected Soon

August 06, 2014

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On August 6, 2014, Canada amended the Special Economic Measures (Ukraine) Regulations and Special Economic Measures (Russia) Regulations to further expand the list of "designated persons", both individuals and entities, with whom Canadians are prohibited from engaging in business and financial dealings.

The Prime Minister's office also announced that the Canadian government is "committed to imposing the necessary regulations to enact export restrictions on technologies used in Russia's oil exploration and extraction sector". These restrictions are expected to follow soon, and likely will correspond closely with sanctions that were recently announced by the EU and the US, which focus on, in the words of the EU measures, "certain technologies suited to deep water oil exploration and production, arctic oil exploration and production or shale oil projects in Russia". A list of the technologies targeted by the EU can be found in Annex II to EU Regulation 833/2014.

The newly sanctioned individuals and entities are as follows:

Russian Entities Russian Individuals Ukrainian Entities Ukrainian Individuals

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