Canada

Value of frozen Russian assets in Canada slightly lower than 2 months ago | CBC News

The value of Russian assets frozen by Canada as part of its efforts to economically weaken the Vladimir Putin regime in response to its war on Ukraine has decreased, while only an additional $1.6 million in Russian transactions were blocked by Ottawa, since early June, according to updated figures released by the RCMP. 

Under the Special Economic Measures Act, everyone in Canada and all Canadians outside the country must inform the RCMP of any property in their possession or control that is believed to be owned or controlled by an individual or entity placed on Canada’s sanctions list — which began after Russia’s illegal invasion of Crimea in 2014

Although that act is administered and enforced by the minister of Foreign Affairs, the RCMP collects information on assets owned or controlled by designated individuals.

According to an earlier RCMP release, Ottawa blocked $289.1 million in Russian transactions from Feb. 24 to June 7.

By Aug. 9, that figure had increased by $1.6 million, for a total of $290.7 million, according to the RCMP’s latest disclosure

The value of frozen assets has decreased, however. 

From Feb. 24 to June 7, $123 million in Russian assets was frozen.

By Aug. 9, the cumulative figure went down to $122.3 million.

It’s not known how many individuals and entities on Canada’s sanctions list actually hold assets in Canada.

CBC News has reached out to the RCMP and to Global Affairs Canada to ask about any potential reporting errors, whether any assets have been unfrozen and whether any assets have been sold off since the RCMP reported the first figures in June.

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