Canada Lifts Sanctions on Businessman Oleg Boyko
The decision was made following the recommendation of the country's Foreign Minister
Canada's Foreign Minister, Mélanie Joly, advised her government to remove businessman Oleg Boyko from the list of individuals previously sanctioned in connection with Russia's invasion of Ukraine. Mr. Boyko was added to Canada's sanctions list in April 2022.
The businessman's side disagreed with the restrictions. In August 2023, Oleg Boyko filed a lawsuit against the Canadian Foreign Ministry in the Federal Court of Canada. The applicant's lawyers insisted that Mr. Boyko has no business in Canada, and he is not associated with the authorities and state bodies of Russia, and does not participate in Russia's political decision-making.
In the end, Canada's Foreign Minister, Mélanie Joly, authorized to consider matters of imposing and lifting sanctions in accordance with national legislation, reviewed the appeal and decided to grant it, notifying the applicant in a letter dated November 10, 2023. On November 15, a statement was published on the Canadian government's website indicating that «Item 731 of Part 1 of Schedule 1 to the Special Economic Measures (Russia) Regulations is repealed». This section includes "Oleg Viktorovich Boyko, born on September 28, 1964».
«We are pleased that sanctions against businessmen unrelated to politics are gradually being lifted, reflecting a balanced and fair stance of countries toward business», commented Mr. Boyko's lawyer on the decision of the Canadian authorities.
Oleg Boyko is the founder and chairman of the supervisory board of Finstar Financial Group, engaged in investment activities in 25 countries worldwide in the fields of financial services, IT, real estate, retail, and the entertainment industry.
According to Mr. Boyko's lawyer, work is currently underway to lift sanctions in Australia.
