In response to President Putin’s invasion of Ukraine, Canada’s Minister of Innovation, Science and Industry issued a statement requesting investors and Canadian businesses to review their investment plans involving Russian investors.[1] This new policy represents another economic measure taken by the Canadian Government to respond to the Russian action.
According to the Minister, Russia’s continued attacks on Ukraine have created an environment of heightened national security and economic risk to Canada, which will affect both “net benefit to Canada” reviews and national security reviews under the Investment Canada Act (ICA), Canada’s foreign investment review law.
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This piece was originally published on dentons.com
[1] See https://www.ic.gc.ca/eic/site/ica-lic.nsf/eng/lk81228.html
