Mr. Speaker, the following reflects a consolidated response approved on behalf of Global Affairs Canada ministers.

In response to parts (a) to (f) of the question, Canada and its G7 and other allies jointly decided to take further steps to isolate Russia from the international financial system and impose consequences for its actions, including by establishing the Russian elites, proxies and oligarchs, or REPO, task force. Following the March 16, 2022, meeting of the REPO task force, G7 finance ministers released a joint statement outlining their commitment to take all available legal steps to find, restrain, freeze and, where appropriate, seize, confiscate or forfeit the assets of individuals and entities that have been sanctioned in response to Russia’s invasion of Ukraine. This commitment seeks to target the assets of key sanctioned Russian elites and proxies.

Canada moved rapidly and is the first country in the G7 to implement the REPO commitment, further demonstrating Canada’s leadership role in the response to Putin’s unjustified and illegal war in Ukraine. The budget implementation act, which received royal asset on June 23, 2022, established the new asset seizure and forfeiture authorities as part of Canada’s overall sanctions regime, through designated changes to the Special Economic Measures Act and the Justice for Victims of Foreign Corrupt Officials Act. These changes provide authorities to allow Canadian courts to order seized or restrained property in Canada that is owned, held or controlled by sanctioned individuals and entities to be forfeited to the Government of Canada. Funds resulting from asset forfeiture may be used to compensate victims of human rights abuses, restore international peace and security or rebuild affected states.

Since the enactment of these legislative changes, a whole-of-government effort has been under way to operationalize the new authorities and move forward with respect to the first potential seizure of assets.

At present, the government is actively engaged in identifying and analyzing potential target assets, including building solid evidentiary packages to support seizure and forfeiture orders. Such steps are crucial to the successful implementation of this new regime.

Rob Oliphant

$540,030.00