By KYIV. Dec 19 (Interfax-Ukraine) – Foreign Minister Mélanie Joly has announced that Canada will seize $26 million of Granite Capital Holdings Ltd., owned by Russian oligarch Roman Abramovich, who is under sanctions, and will pursue the forfeiture, the press service of the Canadian Foreign Ministry reported.
According to the report, this is the first time that Canada is using its new authorities that allow the government to pursue the seizure of assets belonging to sanctioned persons. This means that Minister Joly will now consider making a court application to forfeit the asset permanently to the Crown.
"If forfeited, the proceeds that are generated will be able to be used for the reconstruction of Ukraine and compensation to victims of the Putin regime’s illegal and unjustifiable invasion," the report notes.
Canada is the first G7 country to implement such measures, demonstrating its strong commitment to Ukraine, its reconstruction and holding accountable those who have profited from and supported President Putin’s regime.
"Putin’s oligarchs are complicit in Russia’s illegal and barbaric invasion of Ukraine. Canada will not be a haven for their ill-gotten gains, and today’s announcement demonstrates our determination to ensure that Russia’s elites pay the price for their support of Putin’s brutal regime. It is just and appropriate for Russian assets to be used to help rebuild Ukraine," Deputy Prime Minister and Minister of Finance Chrystia Freeland said.
Since Russia’s illegal occupation and attempted annexation of Crimea in 2014, Canada has imposed sanctions on more than 2,100 individuals and entities. Since February 24, 2022, Canada has imposed sanctions on more than 1,500 additional individuals and entities from Russia, Ukraine and Belarus.
