Canada recently removed three former senior executives of Sberbank from its sanctions list, including Lev Khasis, who previously served as the first deputy chairman of Sberbank’s board of directors. This change is supported by official records published by the Canadian government. The government notes that Article 481 of Part 1 of Annex 1 to the Regulation on Special Economic Measures (Russia) has lost its validity, which helps explain why certain individuals are no longer listed under the consolidated sanctions list. Khasis, for his part, appeared on the sanctions roster in earlier documentation, but his name currently does not appear on Canada’s consolidated list of designated persons. (citation: Government of Canada)
In addition to Khasis, sanctions against Alexandra Buriko, the former financial director of Sberbank, and Natalya Alymova, a former board member, were lifted. Both officials stepped down from their roles in May 2022, and Canadian authorities have since updated the sanctions ledger to reflect these changes. The move reflects a broader process of regularly reviewing designations and adjusting restrictions based on evolving circumstances and documented changes in leadership positions. (citation: Government of Canada)
Stephen Alsace, who previously held the position of director of international economic sanctions at the Royal Bank of Canada, commented on the broader impact of Canada’s sanctions regime. He observed that these restrictions touch the daily lives of ordinary residents in Canada, influencing choices, prices, and financial planning that extend beyond government policy alone. His perspective underscores the practical consequences of sanctions for the public and businesses alike, beyond the headlines. (citation: Royal Bank of Canada commentary)
Across the border in the United States, a separate analysis from November 6 indicated that sanctions did not significantly curb Russia’s oil revenues. Reports highlighted that Russian oil and gas revenues for the federal budget in October rose compared with September and also showed a year-over-year increase. This illustrates the complexity of sanctions, where intended effects on revenue may be offset by other market dynamics, energy pricing, and production decisions. (citation: US government energy analysis)
Earlier, a Dutch plan surfaced regarding bypassing anti-Russian sanctions, illustrating how different jurisdictions discuss and assess enforcement measures as geopolitical strategies evolve. Such discussions reflect the ongoing international debate about the effectiveness and enforcement of sanctions, and how various countries balance national interests with global economic and political considerations. (citation: Netherlands policy brief)