Ottawa to attempt confiscating Russian oligarch assets, a first in sanctions regime

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Ottawa to attempt confiscating Russian oligarch assets, a first in sanctions regime
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The federal government plans to target a Russian oligarch using a law to confiscate and divert assets held by people who have been sanctioned, said Foreign Affairs Minister Mélanie Joly.

Joly's office said she "will now consider making a court application" to seize these assets and divert them to the reconstruction of Ukraine — marking the first time the law has been used in this way.Joly told reporters in Montreal that the RCMP is independently pursuing investigations into people Ottawa has sanctioned who hold assets in Canada.

It found that 90 per cent of respondents support seizing assets of Russian officials who are leading the war effort in Ukraine, and diverting that cash to victims of the invasion.

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