Canada has added Roman Arkadyevich Abramovich, a prominent football-club-owning oligarch, to its list of people sanctioned in connection with Russian President Vladimir Putin’s invasion of Ukraine. And while Chelsea FC is in tony London, the restrictions could also reverberate through Regina and Red Deer, Alta. Here’s what you need to know:

What happened: The restrictions mean Canadians can’t deal with him or his assets. Speaking to reporters on Friday in Warsaw, Prime Minister Justin Trudeau singled out Abramovich by name, saying Ottawa is creating “clear and deep consequences for Putin and those who have enabled his regime.” 

The backstory: Abramovich amassed his wealth by buying, holding and reselling companies and assets privatized by the disintegrating Soviet state. Bloomberg pegs his net worth at US$13.7 billion, even after a nearly one-quarter decline this year to date. Abramovich governed Russia’s eastern Chukotka province between 2001 and 2008, during Putin’s first presidential stint. But the oligarch has long denied being directed by the Kremlin, and sued to enforce that claim. 

Canada’s sanctions on Abramovich came a day after the U.K. made the same move. The move pauses the sale of his Chelsea team—itself prompted by the backlash to the invasion—and prevents the club from transacting in tickets, players or commercial deals.

The company: Abramovich owns 28.6 per cent of Evraz, a London-headquartered steel giant. In Canada, the firm runs mills in Camrose, Calgary, Edmonton, Red Deer and Regina which turn out coiled plate, couplings, pipes and slabs that are bought by oil and gas producers, pipeline operators, and railways. The company made US$953 million of its US$14.2 billion revenue in 2021 from Canadian clients and had unused tax losses of US$125 million here, according to its annual report.

The impact: Trudeau said Friday he was “confident” the sanctions “will not impact the hard-working Canadians” at Evraz. But Ottawa is taking at least one direct action against it. In March 2019, the federal government gave Evraz North America a $40-million loan from its flagship Strategic Innovation Fund for a $112.6-million effort to upgrade its Regina and Red Deer facilities. That award is now on pause. “No further payments are being made to Evraz until we can assess the situation,” said Alison Reilander, a spokesperson for Innovation, Science and Economic Development (ISED), in response to questions from The Logic.

The department paid just over $40 million to the firm between the 2018–19 and 2020–21 fiscal years, according to The Logic’s analysis of the federal public accounts. ISED declined to say how much of the award remained outstanding; the company has until April 2031 to repay.

Evraz North America did not respond to a request for comment. In the U.K., its parent company has said it doesn’t consider itself subject to sanctions; the London Stock Exchange suspended trading of its shares Thursday.