Canada uses seized Russian assets for humanitarian aid to Ukraine

Canadian Foreign Minister Melanie Joly said Canada had become the first G7 country to allow the seizure of assets and offered allies to do the same.

“There is a weak link in (our) sanctions package, which is the government’s ability to sell confiscated assets and then use the proceeds to compensate victims of the war in Ukraine,” Joly told reporters in Ottawa. Wednesday (27/4). .

Joly added that the proposed changes to Canada’s sanctions regime. In this regard, Canada passed the Budget Implementation Bill on Tuesday (4/26).

At the same time, Canada also announced that it was imposing new sanctions on 203 people accused of taking part in Russian President Vladimir Putin’s attempt to annex territories in the Donbass region in eastern Russia. ‘Ukraine.

“Canada will not sit idly by and watch President Putin and his cronies attempt to redraw Ukraine’s borders with impunity,” Joly continued.

Meanwhile, the Canadian Parliament has now begun debating the size of the seized assets and voting on the proposed changes.

They are expected to pass because Prime Minister Justin Trudeau’s minority Liberal government has the support of leftist New Democrats.

Under this rule, funds or property confiscated from Russia can be donated to help rebuild Ukraine or to those affected by the Russian invasion.

Local media said the value of assets seized from wealthy Russians could reach tens of millions of dollars in Canada, but officials declined to confirm the exact figure.

Robert Butler

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