Marina Nikolaevna ZHEYNOVA

CA

2022-04-26

CA

Canadian Sanctions Related to Ukraine

Canada country specific

Russia

Asset freeze, Export and import restrictions, Financial Prohibitions, Technical assistance prohibition

Canada and Ukraine have enjoyed close bilateral relations since Canada became the first Western nation to recognize Ukraine’s independence on December 2, 1991. On August 1, 2017, the Canada-Ukraine Free Trade Agreement (CUFTA) entered into force, which enhances trade between the two countries. The Trade Commissioner Service provides support and advice to Canadian companies seeking to do business in Ukraine. Canada has placed sanctions on the Russian-occupied Crimea region of Ukraine and on Ukrainian individuals and entities related to Russia’s illegal occupation and attempted annexation of Crimea and the ongoing Russian occupation in parts of eastern Ukraine. While Canada does not have blanket sanctions in place relating to Ukraine, Canadian companies should be mindful of specific and targeted sanctions in line with the above. More information on these targeted measures is included below.