Canada is the first G7 country to seize assets belonging to Russia and pass legislation to auction them off, with the proceeds then redirected to rebuild…
Ottawa’s decision was taken because Russia claims it can’t operate the Nord Stream natural gas pipeline at full capacity without the turbine, and Germany, the recipient of the gas, is trying to fill storage tanks ahead of the winter.
Canada is the first G7 country to seize assets belonging to Russia and pass legislation to auction them off, with the proceeds then redirected to rebuild Ukraine. The proceeds of already frozen assets of sanctioned individuals in Canada is far more modest: $123 million, according to the RCMP. There seems little doubt that these proceeds will be forwarded to Ukraine, although how that will work precisely has not been revealed.In fact, it is so bold, it may not be legal under Canadian or international law.Article content
But there are legal holes in the legislation you could drive a horse and cart through and the process will doubtless be challenged in court .Article content
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