Canada will create an international precedent to confiscate Russian sovereign assets.

In the upper house of the Canadian Parliament, the procedure for considering the draft law on seizing sovereign assets belonging to offending states, including Russia, has begun.

“The proposed document creates a legal way for Canada and other states that follow its example to use Russian assets to compensate Ukraine,” said independent senator Ratna Omidvar.

According to her, very few Russian sovereign assets are in Canada, but setting an international precedent is still important. The bill gives the Canadian government the authority to confiscate the sovereign assets of other states in the country’s territory.

“The document will change the sanctions legislation in general, allowing similar measures to be taken against other violator states besides Russia that commit mass crimes,” the senator summarized.

It should be noted that current Canadian legislation allows the confiscation of assets of Russian citizens and companies by court order. However, national courts do not have jurisdiction over the assets of sovereign states.