The Canadian government intends to confiscate $26 million in assets seized under sanctions from Russian oligarch Roman Abramovich, and to use the proceeds from their confiscation to help rebuild Ukraine. This is stated in the statement of the Ministry of Foreign Affairs of Canada.
This is the first time Canada has implemented a law that allows for court-ordered confiscation of sanctioned assets.
The sanctioned assets belong to Granite Capital Holdings, owned by Abramovich.
Foreign Minister Melanie Joly must now go to court with a request for permanent asset forfeiture in favor of Canada.
"In case of confiscation, the received funds can be used to restore Ukraine and compensate the victims of the illegal and unjustified invasion of the Putin regime," the statement said.
"Canada is the first G7 country to introduce such measures, demonstrating its strong commitment to Ukraine, its recovery and bringing to justice those who profited from and supported President Putin's regime," the Foreign Ministry added.
The law allowing the confiscation was passed in June, but Jolie has previously said enforcement has been difficult due to a lack of police resources to identify and seize assets subject to sanctions.
In October, the government announced C$76 million (US$55.6 million) in funding for a new special office in Joly's department to enforce sanctions and provide additional police support.