Oleg Boyko, international businessman, has been removed from the list of persons against whom the Government of Canada previously decided to impose sanctions against Russia in connection with its invasion of Ukraine.
Upon the recommendation of the Minister of Foreign Affairs of Canada, changes were made to the list of persons against whom sanctions were previously imposed.
Due to failure to receive a response from the Canadian authorities, in August 2023, Oleg Boyko filed claims against the Ministry of Foreign Affairs in the Federal Court of Canada.
After the court initiated administrative proceedings, the Minister of Foreign Affairs of Canada – the person authorized to consider issues of imposition and lifting of sanctions in accordance with national legislation – considered the appeal and decided to satisfy it. She duly notified the applicant by letter on November 10.
The reasons for imposing and lifting sanctions are not publicly disclosed, however, the applicant’s lawyers insisted that Mr. Boyko does not have any business in Canada, is not a person associated with the authorities and government bodies of Russia, and does not take part in political processes in the Russian Federation.
“We are certainly glad that sanctions against businessmen who are not related to politics are gradually being lifted; this certainly speaks of a balanced and fair position of countries regarding business,” Mr. Boyko’s lawyer proclaimed.
Oleg Boyko is the main beneficiary of the Finstar holding, which invests in fintech in more than 25 countries.