Canada arrested Abramovich's assets for $ 26 million: they plan to give money to Ukraine - ForumDaily
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Canada seized Abramovich's assets for $26 million: they plan to give the money to Ukraine

The Canadian government intends to confiscate $ 26 million of assets seized under sanctions from Russian oligarch Roman Abramovich, and use the proceeds from their confiscation to help restore Ukraine, reports Ukrainian Truth.

Photo: IStock

This is the first time that Canada has enforced a law allowing court-ordered forfeiture of sanctioned assets.

The sanctioned assets belong to Granite Capital Holdings, owned by Abramovich. Canadian Foreign Minister Mélanie Joly must now go to court with a request for permanent confiscation of the asset in favor of Canada.

“If confiscated, the proceeds could be used to rebuild Ukraine and compensate victims of the Putin regime’s illegal and unjustified invasion,” the statement said.

On the subject: Western sanctions did not kill the Russian economy and did not stop the war: is there any effect from them

“Canada is the first G7 country to introduce such measures, demonstrating its strong commitment to Ukraine, its recovery and holding accountable those who profited from and supported President Putin’s regime,” it added. Ministry of Foreign Affairs.

“From the very beginning of the war, we warned Putin and his cronies that they would not be able to hide from the consequences of their actions. Impunity was never an option, and Canada will continue to put pressure on the Russian regime and those who benefited from Putin's barbaric invasion of Ukraine. As Ukrainians continue to fight valiantly to reclaim the land that is rightfully theirs, we reaffirm our commitment to supporting Ukraine for as long as it takes,” Joly said.

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“Putin’s oligarchs are complicit in Russia’s illegal and barbaric invasion of Ukraine. Canada will not become a safe haven for their ill-gotten gains, and today's announcement demonstrates our determination to ensure that the Russian elite pay the price for their support of Putin's brutal regime. Using Russian assets to rebuild Ukraine is fair and appropriate,” said Chrystia Freeland, Deputy Prime Minister and Minister of Finance of Canada.

A law allowing the confiscation was passed in June, but Joly has previously said it has been difficult to enforce due to a lack of police resources to identify and seize sanctioned assets.

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In October, the government announced $55,6 million to fund a new dedicated bureau within the Joly department to enforce sanctions and provide additional police support.

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