Ottawa Prepares to Confiscate Russian Assets: Moscow Warns of Retaliation

The Canadian Parliament is preparing to pass a law on the confiscation of frozen Russian assets. Official Ottawa strongly recommends using its developments as a model for the European Union.

Currently, Canada has frozen assets amounting to $26 million and an Antonov An-124 aircraft. These assets are intended to be transferred to the state budget. The proposed Canadian law aims to block all legal claims, which raises serious concerns among countries considering similar confiscations.

Meanwhile, in the European Union, the amounts involved are much larger. Belgium alone has frozen €200 billion, with an additional €100 billion frozen by other EU countries.

Moscow has warned that in the event of asset confiscation, Russia will take retaliatory measures. European property in Russia is also valued at hundreds of billions of euros. Overall, the Canadian experience is unlikely to be widely adopted in the Old World, where fears are less about lawsuits and more about reciprocal confiscations.