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Canada starts freezing, confiscating Abramovich’s assets — Foreign Minister

"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," Global Affairs Canada said

OTTAWA, December 19. /TASS/. Canadian authorities have initiated the process of freezing and confiscating the assets of Russian businessman Roman Abramovich, who is under sanctions from Ottawa, Global Affairs Canada said on its website on Monday.

"Melanie Joly, Minister of Foreign Affairs, today announced that Canada will seize and pursue the forfeiture of US $26 million from Granite Capital Holdings Ltd., a company owned by Roman Abramovich—a Russian oligarch sanctioned under the Special Economic Measures (Russia) Regulations," the authority said.

"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," Global Affairs Canada said. Canada's foreign minister will now consider making a court application to forfeit the assets permanently and in case of successful forfeiture, the proceeds generated can be used "for the reconstruction of Ukraine," it added.

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