Canadian sanctions on Iran create panic

Ever since the newest Canadian sanctions on Iran were implemented in late 2011, there has been a lot of panic among Iranians looking to immigrate to Canada and also in the Iranian-Canadian community.

Applications that were already in the works are now in limbo because banks won’t grant loans to make their mandatory investment. Quebec’s immigration ministry has now suspended its parallel program until Ottawa fine-tunes the rules. Meanwhile Canada is losing out on many millions of dollars of capital and denying entry to people likely to create new jobs at a time when they are desperately needed.

The sanctions have also created a difficult situation for many Iranian-Canadians with the devaluation of the Iranian currency and a ban on financial transactions.

Canada’s sanctions against Iran were meant to stop Tehran’s ability to build nuclear weapons, but they are also having a devastating impact on Canada’s large Iranian diaspora, community leaders say. 

The Canadian government has said all along that the sanctions were put into place to put pressure on the Iranian government, but results show that the pressure is being felt by Iranians and Iranian-Canadians.

CICS Immigration Consulting has been working hard in lobbying the government and to find a solution. Fortunately, there looks to be a window of hope for Investor applicants and those who want to send money to Canada from Iran through a special permit.