The federal government is working with G7 allies to craft new legislation that would allow for not just the freezing of sanctioned Russian assets, but seizing them on behalf of Ukrainian war victims.
The recent federal budget declared Canada's intention to pursue the seizure-of-assets route, which has been the subject of a bill by an Independent senator that is on the verge of being passed in the Senate.
She says because many Russians have assets in Europe and the United States, Canada wants to persuade other allies in the G7 to consider similar legislation.“We know that Russian oligarchs tend to be in other jurisdictions than Canada, and particularly in Europe, because of the close proximity and because of their family links,” she said Wednesday.Sen. Ratna Omidvar has a bill with that goal that is currently at third reading in the Senate.
Global Affairs Canada said the new measures target 11 senior officials and 192 other members of the People's Councils of the self-proclaimed People's Republics of Luhansk and Donetsk for supporting Putin's attack on the area. Putin has now refocused his war on Ukraine's mainly Russian-speaking eastern region, pulling back from an unsuccessful attempt to take the capital Kyiv and drive out the government of President Volodymyr Zelenskyy.
“We are all looking at ways of moving forward and every conversation we have is about how we can do more as Western countries to demonstrate that Vladimir Putin made a terrible mistake. He needs to lose and anyone who supports him needs to face severe consequences.”
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