Senator Ratna Omidvar says the images of destruction emerging from Ukraine make it essential to enact a law to begin confiscating Russian money before Parliament adjourns for the summer
An independent senator is calling on the House of Commons to fast-track a new law she’s proposing that would confiscate billions of dollars of frozen Russian assets and use them to rebuild Ukraine.
Omidvar said the images of destruction emerging from Ukraine make it essential to enact a law to begin confiscating money before Parliament adjourns for the summer in June. As the G7 finance ministers meeting wrapped Friday in Washington, the group acknowledged that the US$84 billion already spent to help Ukraine since Russia seized the Crimean Peninsula in 2014 is the just the beginning.
Omidvar said a key feature of her bill is the creation of a central registry to find where money is hidden, and to help target “enablers” – accountants, lawyers and financial advisers, among others – who are helping rich Russians loyal to Putin stash and launder money.
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