Canadian Government hardens stance on Russian investment in Canada in response to the Ukraine crisis

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.

Read the complete article here.

This piece was originally published on dentons.com

[1] See https://www.ic.gc.ca/eic/site/ica-lic.nsf/eng/lk81228.html

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About Sandy Walker

Sandy Walker is co-Chair of Dentons' Competition and Foreign Investment Review group and is recognized as one of the country’s leading competition and Investment Canada Act lawyers. Sandy's practice focuses on securing government approvals for mergers and acquisitions from the Competition Bureau, Investment Canada and other regulatory agencies, including navigating complex “net benefit to Canada” reviews and the national security review process on behalf of foreign investors, both state-owned and private sector.