Foreign Affairs Minister Mélanie Joly has quietly removed a Russian banker from Canada’s Ukraine war sanctions list, offering no public explanation for the decision. Blacklock's Reporter says the move grants Denis Valentinovich Kamyshev, a director at Gazprom Bank, exemptions from sanctions that had been in place since 2022. Joly’s office did not respond to requests for comment on the reasoning behind this exemption.Kamyshev, 49, was originally sanctioned as part of Canada’s efforts to penalize Russia’s financial elite following its invasion of Ukraine. He was among hundreds of executives targeted for holding “influential positions that help shape Russia’s policy or benefit from ill-gotten gains,” according to a Department of Foreign Affairs notice in September 2022.The decision to remove Kamyshev from the blacklist was made without public consultation. In a legal notice under Special Economic Measures Regulations, Joly stated that “public consultation would not have been appropriate.” No details were provided on why Kamyshev was granted an exemption or what business interests he may have in Canada."The Minister has been provided evidence supporting the removal," the department said in a brief statement but did not elaborate further.The exemption now allows Kamyshev to travel to Canada and conduct business with Canadian entities without facing restrictions. “This amendment will remove those restrictions, providing a theoretical benefit to the individual and any Canadians or Canadian entity that may wish to engage in dealings with the individual,” read the official notice.Kamyshev, a former partner with Ernst & Young in the United Kingdom, is the latest individual to receive sanctions relief from Canada. The move follows other recent exemptions granted under Economic Measures Regulations, including a waiver for Canadian jewelers in September allowing them to import Russian diamonds. Russia is the world’s largest diamond producer, with annual exports valued at $5 billion.Earlier, in July 2022, Joly had also permitted the shipment of a natural gas turbine to Germany for use by Gazprom, Russia’s state-controlled natural gas company. That decision faced criticism from the Ukrainian Canadian Congress, with senior policy advisor Orest Zakydalsky telling MPs, "We’ve gained nothing" from the exemption.
Foreign Affairs Minister Mélanie Joly has quietly removed a Russian banker from Canada’s Ukraine war sanctions list, offering no public explanation for the decision. Blacklock's Reporter says the move grants Denis Valentinovich Kamyshev, a director at Gazprom Bank, exemptions from sanctions that had been in place since 2022. Joly’s office did not respond to requests for comment on the reasoning behind this exemption.Kamyshev, 49, was originally sanctioned as part of Canada’s efforts to penalize Russia’s financial elite following its invasion of Ukraine. He was among hundreds of executives targeted for holding “influential positions that help shape Russia’s policy or benefit from ill-gotten gains,” according to a Department of Foreign Affairs notice in September 2022.The decision to remove Kamyshev from the blacklist was made without public consultation. In a legal notice under Special Economic Measures Regulations, Joly stated that “public consultation would not have been appropriate.” No details were provided on why Kamyshev was granted an exemption or what business interests he may have in Canada."The Minister has been provided evidence supporting the removal," the department said in a brief statement but did not elaborate further.The exemption now allows Kamyshev to travel to Canada and conduct business with Canadian entities without facing restrictions. “This amendment will remove those restrictions, providing a theoretical benefit to the individual and any Canadians or Canadian entity that may wish to engage in dealings with the individual,” read the official notice.Kamyshev, a former partner with Ernst & Young in the United Kingdom, is the latest individual to receive sanctions relief from Canada. The move follows other recent exemptions granted under Economic Measures Regulations, including a waiver for Canadian jewelers in September allowing them to import Russian diamonds. Russia is the world’s largest diamond producer, with annual exports valued at $5 billion.Earlier, in July 2022, Joly had also permitted the shipment of a natural gas turbine to Germany for use by Gazprom, Russia’s state-controlled natural gas company. That decision faced criticism from the Ukrainian Canadian Congress, with senior policy advisor Orest Zakydalsky telling MPs, "We’ve gained nothing" from the exemption.
