A billionaire and former Russian oligarch who renounced his Russian citizenship in the summer of 2023 has failed in his bid to get Canadian sanctions against him lifted. Igor Viktorovich Makarov’s case wound up at the Federal Court of Appeal after Canada added the oil and gas magnate’s name to the sanctions list aimed at punishing those associated with Russia’s war on Ukraine. Canada reportedly froze $145 million of Makarov’s assets in 2022. Makarov became a billionaire from his business activities in Russia, some of which were state assisted, or state associated, with...

Source: CBC News December 29, 2025 11:14 UTC