Canada's Senate greenlights confiscation of Russian assets

The Canadian Senate approved a bill proposed by Prime Minister Justin Trudeau, which provides for the possibility of confiscating Russian assets.

RBC-Ukraine reports with reference to Reuters that Bill C-19 proposes a number of measures, including a two-year ban on the purchase of housing by foreign citizens, as well as the right to confiscate and sell the assets of those responsible for the invasion of Russia in Ukraine.

It is also reported that the 450-page document passed the upper house without any changes and will become law after the formal Royal Ascent.

The head of the Ukrainian presidential office, Andriy Yermak, has already reacted to the news. According to him, the changes also provide for the transfer of confiscated property to another state.

"In the case of Ukraine, this means that Canada will be able to confiscate Russian assets frozen on its territory and transfer them to Ukraine. This is the first precedent for strengthening such a mechanism in the law after the outbreak of war," he added.

Earlier, it was reported that US authorities could not come to a consensus on the possible confiscation of Russian assets.