Two recent developments in the Canadian
economic sanctions regime are notable for Canadian financial institutions and
businesses engaged in international trade: Canada has imposed new sanctions
against Venezuela under the Special Economic Measures Act (SEMA) and removed
the export ban it had in place against Belarus since 20. The SEMA is the
federal legislation through which Canada imposes sanctions on foreign
jurisdictions and persons, where the Canadian government is of the opinion that
a grave breach of international peace and security has occurred, or when Canada
implements a decision of an international organization, other than the United
Nations. More…
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