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Canada to seize, forfeit $26M in assets of Russian Oligarch Roman Abramovich | FULL

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Foreign Affairs Minister Mélanie Joly announced Monday that Canada is starting the process of seizing and forfeiting the assets of Russian Oligarch Roman Abramovich. Joly says a total of $26 million will be seized from Abramovich’s U.S. bank accounts and be used to compensate victims of the war in Ukraine and help in the reconstruction of the country.

Joly noted that Canada will be the first G7 country to move ahead with this approach.

“We hope others will follow suit and this is a step in the right direction,” Joly said.

Joly said Abramovich has already been sanctioned by the Canadian government and is seen as an enabler of Russian President Vladimir Putin and his illegal invasion of Ukraine.

Joly made the announcement in Montreal after a talk on Canada’s Indo-Pacific strategy dealing with China.

For more info, please go to https://globalnews.ca/news/9306508/canada-china-indo-pacific-strategy-joly/

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Category
U.S. & Canada
Tags
global news, Canada, China
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