(Ottawa) Foreign Affairs Minister Mélanie Joly says she supports the “intent” of an independent senator’s bill to confiscate seized Russian assets, even though the government’s version of such a bill law differs in one essential respect.
Posted at 4:11 p.m.
During his testimony at the Senate Foreign Affairs Committee meeting on Thursday, Mr.me Joly essentially endorsed the work of Senator Ratna Omidvar who has a bill currently in third reading in the Senate.
Ratna Omidvar asked Mr.me Joly at a committee meeting today why being forcibly removed is not a criterion in the government bill that would allow seizure of property as it is in his bill . “It’s a significant difference […] in the language,” she told the minister.
Mme Omidvar believes that since millions of Ukrainians have had to flee their homes since the February 24 invasion, this should be a feature of any new law that gives the government the power to seize and reallocate the sanctioned assets of Russian oligarchs who support President Vladimir Putin.
Mme Joly responded to Senator Omidvar that the government wanted to build on its work in the Senate and did not want to craft legislation that would impose a greater legal burden on government officials when trying to impose sanctions.
“That’s why we thought [garder le projet] just a little wider might be a lot more helpful in meeting the intent of the bill, and certainly yours, senator,” Ms.me Pretty.
Mme Omidvar thanked Minister Joly for her response and for the government to take up the torch of her work in the Senate. Such a law would break new ground in the international legal landscape by going beyond the simple freezing of bank accounts, assets and other property authorized by the current sanctions regime.
Melanie Joly said earlier this week that since many Russians have assets in Europe and the United States, Canada wants to persuade other G7 allies to consider similar legislation.
On Thursday, it looks like Canada may have ticked a G7 member off its list — the United States — as President Joe Biden asked Congress for new power to seize and reallocate Russian assets frozen by sanctions.
“Congratulations, you have taken a step forward on the world stage as a leader in this project, Senator Omidvar told Mme Pretty. And already President Biden has signaled his intention to follow suit. I wish you good luck in persuading your other G7 partners to do the same. »
The government’s bill would allow assets to be seized and consulted with a neutral court before they could be distributed to war victims in Ukraine to rebuild their country, which has seen large parts ravaged since the start of the Russian invasion more than two months ago.
The proposed laws would allow the seizure of the assets of wealthy Russian oligarchs – from lucrative investments to real estate and super yachts – who have been loyal to Putin. No one knows for sure how much money could be up for grabs in Canada, but many are quoting Roman Abramovich, a well-known oligarch who is a major shareholder in Evraz, a British multinational manufacturing company that operates a steel mill in Regina.
In a video address last week, Ukraine’s President Volodymyr Zelensky called on the World Bank and International Monetary Fund to seize Russian assets to help his country rebuild.
The Ukrainian Embassy in Ottawa and the Canada-based Global Council for Refugees and Migration applauded Mr.me Omidvar to put an asset seizure bill on the federal agenda. The embassy urged the House of Commons to pass it before the end of the current session in June.