ANNOUNCEMENT 05 Apr 2022

In April 2022, the government of Canada banned the provision of insurance services to Russian aviation and aerospace industries as part of economic sanctions in response to the Russian invasion of Ukraine. 

NUMBER OF INTERVENTIONS

1

  • 1 harmful
  • 0 neutral
  • 0 liberalising

SOURCE

Government of Canada. Regulations Amending the Special Economic Measures (Russia) Regulations (SOR/2022-074). 05/04/2022. Available at: https://www.international.gc.ca/world-monde/international_relations-relations_internationales/sanctions/russia_regulations-reglement_russie13.aspx?lang=eng

Government of Canada. News release "Canada announces it will impose additional sanctions on Russian and Belarusian regimes". 04/04/2022. Available at: https://www.canada.ca/en/global-affairs/news/2022/04/canada-announces-it-will-impose-additional-sanctions-on-russian-and-belarusian-regimes.html

Inception date: 05 Apr 2022 | Removal date: open ended

Export ban

On 5 April 2022, the government of Canada introduced the Regulations Amending the Special Economic Measures (Russia) Regulations (SOR/2022-074) prohibiting the provision of insurance and reinsurance services to the Russian aviation and aerospace industry. The measure is introduced as part of the sanctions adopted by Canada against Russia in light of Russia's invasion of Ukraine. 

The Regulation specifically prohibits the provision of insurance and reinsurance services to or for the benefit of Russia or any person in Russia with regard to any good mentioned in Chapter 88 of the Harmonized Commodity Description and Coding System ("Aircraft, spacecraft, and parts thereof") or any related technology. The regulation does not apply to the contracts valid during the month after the state act's entry into force. 

Alongside the restrictions on insurance and reinsurance, the announcement promulgated additional sanctions against 9 Russian individuals who, according to the government, "facilitated and enabled violations of Ukraine’s sovereignty, territorial integrity and independence". 

The measure is part of the several rounds of sanctions introduced by Canada against Russia and Belarus (see related state acts). 

AFFECTED SECTORS

 
N/A

AFFECTED PRODUCTS

 
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