Author: Canada Vancouver Sailing Farm – Maple news Talk
(Picture source www.reuters.com)
According to a report by Reuters on April 26, Canada will amend its sanctions bill against Russia to allow the government to redistribute foreign assets seized and sanctioned by it to victims to help the victim country rebuild. This would make Canada the first G7 country to take the measure.
Canadian Foreign Minister Melanie Joly said: “What the federal government is looking for is not just seizure, but the right to seize the assets of sanctioned individuals and entities and use them to compensate victims.” As a result, Canada could use seized Russian funds or property to aid reconstruction in Ukraine or help victims of the Russian invasion war.
It is reported that the above measures will be part of the budget implementation bill. In addition, the legislation will also require banks to provide a list of foreign personal and entity assets that have been frozen due to sanctions imposed by the Canadian government, in order to keep the details truthful.
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