The Canadian Government recently added 121 Russian "shadow fleet" vessels and five trading venues to its list of Russia sanctions.
The updated list now includes vessels of different types such as crude oil tankers, product tankers, LNG carriers, container vessels, bulk carriers, general cargo ships, Ro-Ro ships, offshore supply vessels, and even floating storage and offloading platforms.
The Canadian Government's Special Economic Measures (Russia) Regulations, which initially came into force on March 17, 2014, prohibit any ship that is registered in Russia or used, leased or chartered, in whole or in part, by or on behalf of or for the benefit of Russia, a person in Russia or a designated person from docking in Canada or passing through Canadian waters.
The regulations were also recently amended to add seven individuals, and 34 entities to schedule one, including senior leadership and related entities supporting the Russian defence-industrial base and revenue-generating strategic sectors, particularly energy, nuclear services and financial enablers, including cryptocurrency.
The regulations also prohibit the provision of financial services or any other services to any person outside Canada who is not Canadian, where the services relate to a ship listed in schedule 1.1 of the regulations, to which the 121 vessels were added earlier this month.
The regulations will impose an asset freeze and dealings prohibition on designated persons listed in schedule one, which also include both individuals and entities.
