Skip to content Skip to Search
Skip navigation

Canada cracks down on $314m of Russian assets

Reuters/Lucy Nicholson
Canada's Prime Minister Justin Trudeau

Canadian police said on Thursday they had cracked down on more than C$400 million ($314.81 million) in Russian assets and transactions involving people sanctioned as a result of Moscow’s war on Ukraine.

The Royal Canadian Mounted Police said in a statement that from Feb. 24 to June 7, C$123 million of Russian assets in Canada had been effectively frozen and a further C$289 million in transactions had been blocked. It gave no details.

Since Russia’s invasion of Ukraine on Feb. 24, Canada has imposed sanctions on more than 1,000 individuals and entities from and in Russia, Ukraine and Belarus.

In April, Ottawa said it would change its sanctions law to allow for seized and sanctioned foreign assets to be redistributed as compensation to victims or to help in rebuilding a foreign state from war. ($1 = 1.2706 Canadian dollars)