The Canadian government announced the start of a process to seize $26 million in assets from a company owned by Roman Abramovich.
While other Canadian Western allies have seized yachts, oil, and gas ventures and other assets of people close to Russian President Vladimir Putin, this is the first time Canada is doing something of this nature.
Ottawa stated that it would secure a court injunction to go after Abramovich’s Granite Capital Holdings, and use the proceeds for the reconstruction of Ukraine.
“Putin’s oligarchs are complicit in Russia’s illegal and barbaric invasion of Ukraine,” Deputy Prime Minister Chrystia Freeland revealed.
“Canada will not be a haven for their ill-gotten gains, and today’s announcement demonstrates our determination to ensure that Russia’s elites pay the price for their support of Putin’s brutal regime,” she said.
The 56-year-old former owner of the Chelsea football club in London, was sanctioned by Canada, as well as Britain and the EU.
Since Russia’s invasion of Ukraine, Canada has sanctioned more than 1,500 Russian individuals and establishments as well as their supporters.
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