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Canada Imposes Sanctions Against Venezuela

Sanctions related to Venezuela have been enacted under the Special Economic Measures Act in order to implement the decision of the Association formed between Canada and the United States of America on September 5, 2017. The Association called on its members to take economic measures against Venezuela and persons responsible for the current situation in Venezuela.

The Special Economic Measures (Venezuela) Regulations impose an asset freeze and dealings prohibition on listed persons. The Regulations prohibit any person in Canada and any Canadian outside Canada from:

  • dealing in property, wherever situated, that is owned, held or controlled by listed persons or a person acting on behalf of a listed person;
  • entering into or facilitating any transaction related to a dealing prohibited by these Regulations;
  • providing any financial or related services in respect of a dealing prohibited by these Regulations;
  • making available any goods, wherever situated, to a listed person or a person acting on behalf of a listed person; and
  • providing any financial or other related services to or for the benefit of a listed person.

Causing, facilitating or assisting in prohibited activities is likewise prohibited.

 

Topic(s)

Acts & Regulations
Other Government Departments (OGDs) Requirements

Information source

Global Affairs Canada (GAC)
Disclaimer

The foregoing information is provided for informational purposes only and is not intended as, nor should it be considered, professional advice or a substitute for conducting your own thorough research and review. Before making any decisions or taking any action based on the information provided, you should conduct your own independent investigation and/or seek professional advice from a qualified expert in the relevant field. The CSCB disclaims all liability for actions taken or not taken based on the information provided.