Apr 24, 2022
By Steve Kee
An independent senator is calling on the House of Commons to fast-track a proposed law to confiscate billions of dollars of frozen Russian assets, and use them to rebuild Ukraine.
Senator Ratna Omidvar’s bill is set to be passed by the Senate, meaning elected MPs will soon decide its fate.
Omidvar says the images of destruction in from Ukraine make it essential to pass a law and start confiscating money frozen by sanctions before Parliament adjourns in June.
Canada’s current sanctions laws allow assets to be frozen but give no legal authority to take that money and use it for other purposes.
Canada has sanctioned more than 11-hundred Russian individuals and entities to punish President Vladimir Putin and his supporters for the February 24th invasion.
If passed, the new law would allow that money to be spent helping the victims of the Russian attacks.