Canada Launches First Forefeiture Pocess for Sanctioned Russian Assets
Canada this week launched its first steps to seize and pursue the forfeiture of sanctioned Russian assets. This is the “first time that Canada is using its new authorities that allow the government to pursue the seizure of assets belonging…
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to sanctioned persons,” said Canada, which will look to seize $26 million from Granite Capital Holdings Ltd., a company owned by sanctioned Russian oligarch Roman Abramovich. Canada said it's the first G-7 country “to implement such measures, demonstrating its strong commitment to Ukraine, its reconstruction and holding accountable those who have profited from and supported President [Vladimir] Putin’s regime.”