Canada has frozen assets and property of the Russian Federation for almost $320 million

On August 15, 2022, it became known, that Canada, in general, blocked Russian assets worth more than 413 million Canadian dollars (about 320 million US dollars), as part of economic sanctions against Russia for violating the sovereignty of Ukraine.

Source: The Royal Canadian Mounted Police

“From February 24 to August 9, 2022, the RCMP reports that a total approximate CAD equivalent of $122,303,625.94 of assets in Canada have been effectively frozen and a total approximate CAD equivalent of $290,714,849.93 in financial transactions have been blocked as a result of the prohibitions in the Special Economic Measures Act against Russia.”

The department emphasized that they regularly receive new information, so they will constantly update the data.

Last time, data on Canadian sanctions against the Russian Federation was made public in June. Since then, the total value of frozen property and funds has increased by only $1 million, although the list of sanctioned persons has been significantly expanded.

Canada has imposed sanctions against more than 1,600 individuals and legal entities that contributed to the violation of Ukraine’s sovereignty since the beginning of the illegal annexation of Crimea by Russia. More than 1,150 of them fell under Canadian sanctions after February 24.

See also: Canada allocated $6 million for nuclear security in Ukraine

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