Igor Makarov’s appeal against Canada’s decision to sanction him following Russia’s invasion of Ukraine has been rejected.
The court ruled against Makarov, who was allegedly besieged by Russian President Vladimir Putin’s ‘cronies’, thus confirming that Canada was right in its decision.
Foreign Affairs Minister Mélanie Joly said Canada was entitled to do its due diligence when considering who to put on the sanctions list.
Joly’s decision to impose sanctions on the oil and gas magnate was reasonable when viewed “holistically” because it was “reasoned, transparent and understandable,” the court ruling said.
The 55-page judgement upheld the government’s assessment that Makarov was associated with Russian officials and business interests, including Putin.
Makarov, chairman of Areti International Group and once a major shareholder in Calgary-based Spartan Delta Corp., has denied being close to the Russian regime.
Canada rejects sanctions appeal by daughters of Russian tycoon with $18 billion fortune
