Special Economic Measures (Russia) Regulations (SOR/2014-58)

Regulations are current to 2017-09-27 and last amended on 2016-03-18. Previous Versions

Special Economic Measures (Russia) Regulations

SOR/2014-58

SPECIAL ECONOMIC MEASURES ACT

Registration 2014-03-17

Special Economic Measures (Russia) Regulations

P.C. 2014-282 2014-03-17

Whereas the Governor in Council is of the opinion that the actions of the Russian Federation constitute a grave breach of international peace and security that has resulted or is likely to result in a serious international crisis;

Therefore, His Excellency the Governor General in Council, on the recommendation of the Minister of Foreign Affairs, pursuant to subsections 4(1) to (3) of the Special Economic Measures ActFootnote a, makes the annexed Special Economic Measures (Russia) Regulations.

Interpretation

Marginal note:Definitions

 The following definitions apply in these Regulations.

Convention

Convention

Convention means the Vienna Convention on Diplomatic Relations, done at Vienna on April 18, 1961. (Convention)

designated person

personne désignée

designated person means a person who is in Russia, or is a national of Russia who does not ordinarily reside in Canada, and whose name is listed in either one of Schedules 1, 2 or 3. (personne désignée)

Minister

ministre

Minister means the Minister of Foreign Affairs. (ministre)

pension

pension

pension means a benefit paid under the Old Age Security Act, the Canada Pension Plan or an Act respecting the Quebec Pension Plan, CQLR, c. R-9, any superannuation, pension or benefit paid under or in respect of any retirement savings plan or under any retirement plan, any amount paid under or in respect of the Garnishment, Attachment and Pension Diversion Act or the Pension Benefits Division Act, and any other payment made in respect of disability. (pension)

Russia

Russie

Russia means the Russian Federation and includes

  • (a) any political subdivision of the Russian Federation;

  • (b) the government, and any department, of the Russian Federation or of a political subdivision of the Russian Federation; and

  • (c) any agency of the Russian Federation or of a political subdivision of the Russian Federation. (Russie)

  • SOR/2014-184, s. 1.

List

Marginal note:Schedule 1

 A person whose name is listed in Schedule 1 is a person in respect of whom the Governor in Council, on the recommendation of the Minister, is satisfied that there are reasonable grounds to believe is

  • (a) a person engaged in activities that directly or indirectly facilitate, support, provide funding for or contribute to a violation or attempted violation of the sovereignty or territorial integrity of Ukraine or that obstruct the work of international organizations in Ukraine;

  • (b) a former or current senior official of the Government of Russia;

  • (c) an associate or family member of a person described in paragraph (a) or (b);

  • (d) an entity owned or controlled by, or acting on behalf of, a person described in paragraph (a), (b) or (c); or

  • (e) a senior official of an entity described in paragraph (d).

  • SOR/2014-98, s. 1;
  • SOR/2014-171, s. 1;
  • SOR/2014-184, s. 2;
  • SOR/2016-50, s. 1.
Marginal note:Schedule 2 or 3

 A person whose name is listed in Schedule 2 or 3 is a person in respect of whom the Governor in Council, on the recommendation of the Minister, is satisfied that there are reasonable grounds to believe is a person owned or controlled by, or acting on behalf of, a person described in paragraph 2(a) or (b).

  • SOR/2014-184, s. 3.

Prohibitions

Marginal note:Prohibited transactions and activities

 It is prohibited for any person in Canada and any Canadian outside Canada to

  • (a) deal in any property, wherever situated, held by or on behalf of a designated person whose name is listed in Schedule 1;

  • (b) enter into or facilitate, directly or indirectly, any transaction related to a dealing referred to in paragraph (a);

  • (c) provide any financial or other related service in respect of a dealing referred to in paragraph (a);

  • (d) make any goods, wherever situated, available to a designated person listed in Schedule 1; or

  • (e) provide any financial or related service to or for the benefit of a designated person listed in Schedule 1.

  • SOR/2014-184, s. 4.
Marginal note:New debt financing — 30 days
  •  (1) It is prohibited for any person in Canada and any Canadian outside Canada to transact in, provide financing for or otherwise deal in new debt of longer than 30 days’ maturity, including bonds, loans, debentures, extensions of credit, loan guarantees, letters of credit, bank drafts, bankers’ acceptances, discount notes, treasury bills, commercial paper and other similar instruments, in relation to

    • (a) a designated person listed in Schedule 2;

    • (b) the property of a designated person listed in Schedule 2; or

    • (c) the interests or rights in property of a designated person listed in Schedule 2.

  • Marginal note:New debt financing — 90 days

    (1.1) It is prohibited for any person in Canada and any Canadian outside Canada to transact in, provide financing for or otherwise deal in new debt of longer than 90 days’ maturity, including bonds, loans, debentures, extensions of credit, loan guarantees, letters of credit, bank drafts, bankers’ acceptances, discount notes, treasury bills, commercial paper and other similar instruments, in relation to

    • (a) a designated person listed in Schedule 3;

    • (b) the property of a designated person listed in Schedule 3; or

    • (c) the interests or rights in property of a designated person listed in Schedule 3.

  • Marginal note:Non-application

    (2) Subsections (1) and (1.1) do not apply if the activities referred to in those subsections were undertaken before the designated person was listed in Schedule 2 or 3.

  • SOR/2014-184, s. 5;
  • SOR/2014-204, s. 1;
  • SOR/2014-316, s. 1.
Marginal note:New equity financing
  •  (1) It is prohibited for any person in Canada and any Canadian outside Canada to transact in, provide financing for or otherwise deal in new securities, including shares or any other ownership interest, in relation to

    • (a) a designated person listed in Schedule 2;

    • (b) the property of a designated person listed in Schedule 2; or

    • (c) the interests or rights in property of a designated person listed in Schedule 2.

  • Marginal note:Non-application

    (2) Subsection (1) does not apply if the activities referred to in that subsection were undertaken before the designated person was listed in Schedule 2.

  • SOR/2014-184, s. 5;
  • SOR/2014-316, s. 2.
Marginal note:Oil exploration or production
  •  (1) It is prohibited for any person in Canada and any Canadian outside Canada to export, sell, supply or ship any good referred to in column 1 of Schedule 4, wherever situated, to Russia or to any person in Russia for use in

    • (a) offshore oil exploration or production at a depth greater than 500 m;

    • (b) oil exploration or production in the Arctic; or

    • (c) shale oil exploration or production.

  • Marginal note:Services

    (2) It is prohibited for any person in Canada and any Canadian outside Canada to provide to Russia or to any person in Russia any financial, technical or other services related to any good whose export, sale, supply or shipment is prohibited by subsection (1).

  • Marginal note:Non-application

    (3) Subsections (1) and (2) do not apply to goods or services if a contract for the export, sale, supply or shipment of the good or for any related service set out in subsection (2) is entered into before the day on which this section comes into force.

  • SOR/2014-316, s. 3.
Marginal note:Non-application

 Section 3 does not apply in respect of

  • (a) any payment made by or on behalf of a designated person listed in Schedule 1 that is due under a contract entered into before the designated person was listed in that Schedule, provided that the payment is not made to or for the benefit of a designated person listed in that Schedule;

  • (b) pension payments to any person in Canada or any Canadian outside Canada;

  • (c) any transaction in respect of any account at a financial institution held by a diplomatic mission, if the transaction is required in order for the mission to fulfill its diplomatic functions as set out in Article 3 of the Convention or, if the diplomatic mission has been temporarily or permanently recalled, when the transaction is required in order to maintain the mission premises;

  • (d) any transaction to international organizations with diplomatic status, United Nations agencies, the International Red Cross and Red Crescent Movement, or Canadian non-governmental organizations that have entered into a grant or contribution agreement with the Department of Foreign Affairs, Trade and Development;

  • (e) any transactions necessary for a Canadian to transfer to a person not listed in Schedule 1 any accounts, funds or investments of a Canadian held by a designated person listed in that schedule on the day on which that person was listed in Schedule 1;

  • (f) financial services required in order for a designated person listed in Schedule 1 to obtain legal services in Canada with respect to the application of any of the prohibitions set out in these Regulations; and

  • (g) any dealings with a designated person listed in Schedule 1 required with respect to loan repayments made to any person in Canada, or any Canadian outside Canada, for loans entered into with any person other than a designated person listed in Schedule 1 or with a designated person listed in that Schedule before the day on which that person was listed in that Schedule, and for enforcement or realization of security in respect of those loans, or payments by guarantors guaranteeing those loans.

  • SOR/2014-184, s. 6.
 
Date modified: