Canada plans legislation allowing confiscation of sanctioned assets

Canada plans legislation allowing confiscation of sanctioned assets

Canada could pass legislation that would allow to confiscate sanctioned Russian assets, Canadian Finance Minister Chrystia Freeland said on Monday.

"We hope that in the coming days my budget legislation will be passed and that does include for the first time in Canada measures that would allow us to confiscate as well as to freeze sanctioned assets," she told reporters at an economic conference in Toronto, in televised remarks.

She said Canada had discussed the matter with the US and other international partners.

"It is going to be really really important to find the money to rebuild Ukraine.

And I can think of no more appropriate source of that funding than confiscated Russian assets," Freeland said.

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