Russian assets taken by the Canadian state could soon be used to finance aid to Ukraine. The federal government is trying to give itself new powers to achieve this. Canada will be the first G7 country to take similar action.
Under this new mechanism, a luxury condo owned by a person authorized by Canada can be acquired, sold and the proceeds will be used to fund aid to Ukraine, for example.
These new provisions are included in the legal documents for federal budget implementation, presented by Chrystia Freeland on April 7th.
Under the proposed changes, Ottawa could not only seize assets associated with those close to the Russian regime, but also confiscate and liquidate them to compensate war victims in Ukraine. It could target 1,100 individuals and entities, including companies, that are on Canada’s sanctions list.
Under the law, proceeds from confiscated property can be used in rebuilding, in restoring peace at compensation for victims in Ukraine.
” We will continue to maximize pressure on the Putin regime and impose extreme costs for this illegal war. “
With these changes, Canada’s sanctions system will be the first in the G7 to allow for this type of action.reasoning of Minister Joly.
This initiative appears to be inspired by Bill S-217, introduced by Senator Ratna Omidvar, which proposes to re-assign asset sanctions to support victims of corruption and human rights violations abroad.
The leader of the New Democratic Party (NDP) wrote to the Prime Minister on March 10 to ask him to pass this Senate bill to help Ukraine.
The opposition is demanding answers
ang NDP supports the Ottawa strategy, but requires more transparency. “We share the concerns raised by a number of security experts that the government has failed to show the extent to which existing sanctions are actually being enforced,” the deputy head of the ministry said. NDPAlexandre Boulérice.
“The new Democrats continue to call on the government to disclose assets authorized in response to Putin’s war. We need to know how the sanctions are applied, who is affected and use these new measures to rededicate assets to support Ukrainian refugees, ”Mr. Boulerice added.
Ottawa is not in a position to say at the moment when these new powers will be available and how much money it expects to recover.
Canada has already announced $ 1.2 billion in support for Ukraine in 2022. This is in addition to the $ 500 million announced in the latest budget for the current fiscal year to provide additional military assistance to Ukraine. ‘Ukraine.
Source: Radio-Canada
