Canada freezes over $350 mln in Russian assets since start of invasion

As part of the sanctions imposed for violating Ukraine's sovereignty, Canada has frozen assets of the Russian Federation worth over 457 million Canadian dollars, which exceeds 350 million US dollars.

According to Ukrinform, the Royal Canadian Mounted Police, which is responsible for monitoring compliance with sanctions, reported this.

"As of February 24, 2022, a total of 140.1 million Canadian dollars in assets have been frozen in Canada in equivalent terms, and 317.4 million dollars in financial transactions have been suspended, in accordance with the prohibitions outlined in the Act on Special Economic Measures against Russia," law enforcement officials said.

In addition, law enforcement officials reported:

• blocking of financial transactions worth 387.2 thousand dollars,
• freezing of assets worth 148.5 thousand dollars related to sanctioned persons from Belarus.

It should be noted that Canada published preliminary data on anti-Russian sanctions in May 2024. Since then, the value of frozen property and funds has increased by only 230 thousand Canadian dollars despite expanding the list of sanctioned persons.

Also, since the illegal annexation of Crimea by Russia, Canada has imposed sanctions on more than 3,000 individuals and legal entities involved in the violation of Ukraine's sovereignty.

For reference:

After Ramstein meeting, on January 9, 2025, Canada announced the allocation of military aid to Ukraine in the amount of more than $300 million:

• 200 million Canadian dollars will be allocated to the Czech initiative to purchase and deliver large-caliber ammunition to Ukraine.
• Another 50 million Canadian dollars will be spent on purchasing various ammunition from Canadian manufacturers.
• Canada is allocating 100 million Canadian dollars under the "Danish model" to support the Ukrainian defense industry's production of drones.

In addition, Canada has trained more than 43 thousand Ukrainian soldiers as part of Operation UNIFIER.

Moreover, Canada has expanded the list of prohibited weapons and is considering transferring certain seized models to the Ukrainian military. In addition, the American-made NASAMS air defense system, which the Canadian government helped to purchase, has already been delivered to Ukraine.

Also, as the lead country in the Coalition to Strengthen the Potential of the Ukrainian Air Force, Canada has committed to training Ukrainian pilots for the next five years.