On Monday, December 19, the Canadian authorities announced the start of a procedure for the confiscation of the assets of Russian businessman Roman Abramovich in Granite Capital Holdings Ltd. This was announced by the Minister of Foreign Affairs of Canada Melanie Joly.

The website of the Government of Canada indicates that it is planned to confiscate assets in the amount of 26 million US dollars.

This is the first time that Canada has used its power to confiscate assets belonging to sanctioned individuals. It is planned to implement it in a judicial proceeding.

The government of Canada said in a statement that these funds can be used to restore Ukraine and pay compensation to the victims of the war unleashed by Russia.

Roman Abramovich was sanctioned by Canada in March, when it was reported that he would be banned from entering the country and his assets would be frozen.

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