Sanctioned countries and research

Canadians and UBC (as a Canadian organization) are prohibited from transacting certain business in sanctioned countries without specific government approval. The prohibitions cover asset freezes (dealing in any property held by, or on behalf of, a person named in the sanctions regulations), offering technical assistance in sanctioned countries, and providing financial services and payments in sanctioned countries.

Please be aware that payments to people in these countries will not be possible without obtaining prior permission from the Canadian Government in advance of transactions with these countries. Penalties include significant fines, both for UBC and our bank.

Get the broad details on the Finance website. If you have any concerns with respect to making payments to sanctioned countries, or receiving such payments, please contact UBC Treasury.