Canada has over $317 million in Russian assets frozen due to Ukraine invasion

Jan 23, 2025 - 13:00

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The Royal Canadian Mounted Police reported that Canada froze Russian assets worth a total of more than 457 million Canadian dollars or over $317 million as part of sanctions imposed for violating Ukraine’s sovereignty.

Since Russia’s illegal annexation of Crimea in 2014, Canada has imposed sanctions against more than 3,000 individuals and entities identified as contributors to Ukraine’s sovereignty violation.

According to Ukrinform, citing Canadian law enforcement officials, since 24 February 2022, authorities have effectively frozen C$140.1 million in assets within Canada and blocked C$317.4 million in financial transactions under the Special Economic Measures (Russia) Regulations.

The police report also reveals actions against Russia’s closest ally, Belarus, including blocked financial transactions exceeding C$387,200 and frozen assets worth nearly C$148,500 related to sanctioned individuals.

Since the previous data release in May 2024, the total value of frozen property and funds has increased by only C$230,000, despite an expansion of the sanctioned individuals list, Ukrinform notes.

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