Canada has imposed additional economic sanctions on 15 individuals and 18 entities under regulations amending the Special Economic Measures (Russia) Regulations (the “Regulations”), which entered into force on 17 March 2014. It had previously designated 32 individuals and one entity (Bank Rossiya), which overlap with US sanctions.
The Regulations target persons in Russia, or Russian nationals, believed to be connected with the government of Russia, and individuals or entities believed, directly or indirectly, to facilitate, support, provide funding for, or contribute to the deployment of Russian armed forces to Crimea.
On 28 April 2014, nine individuals and two entities were designated. The individuals are:
(1) Vyaecheslav Volodin; (2) Dmitry Kozak; (3) Aleksey Pushkov; (4) Alexander Mikhailovich Babakov; (5) Oleg Evgenyevich Belaventsev; (6) Evgeniy Alexsevevich Morov; (7) Vladimir Volfovich Zhirinovsky; (8) Arkady Rotenberg; and (9) Boris Rotenberg. The entities are (1) ExpoBank and (2) RosEnergoBank.
On 4 May 1014, 16 additional entities were listed:
(1) Aquanika; (2) Avia Group LLC; (3) Avia Group Nord LLC; (4) CJSC Zest; (5) InvestCapitalBank; (6) JSB Sobinbank; (7) Sakhatrans LLC; (8) SMP Bank; (9) Stroygazmontazh; (10) Stroytransgaz Group; (11) Stroytransgaz Holding; (12) Stroytransgaz LLC; (13) Stroytransgaz OJSC; (14) Stroytransgaz-M LLC; (15) The Limited Liability Company Investment Company Abros; and (16) Volga Group.
On 12 May 2014, six additional individuals were listed: (1) Valery Vasilevich Gerasimov;
- Igor Girkin (also known as Igor Strelkov); (3) Sergei Ivanovich Menyailo; (4) Sergei Ivanovich Neverov; (5) Oleg Genrikhovich Savelyev; and (6) Ludmila Ivanovna Shvetsova.
ExpoBank, the 103rd biggest Russian bank by assets in 2013, is reportedly attempting to challenge its designation. In a letter to Canada’s Minister of Foreign Affairs, ExpoBank argued that it had been targeted in error, and that the sanctions were supposed to have been imposed on a Ukrainian bank with the same name.
Canada’s Prime Minister Stephen Harper stated that Canada would take further action if Ukraine’s sovereignty and territorial integrity continued to be threatened.
Prior to this latest round of Canadian measures, the Russian ambassador to Canada, Georgiy Mamedov, had stated that Russia would reciprocate if Canada imposed sanctions on Russian financial institutions.