It is a policy change that the Liberals have already expressed a desire to use as soon as it is approved against Russians who have been sanctioned for their ongoing attacks in Ukraine. Under the proposed measures, the Special Economic Measures Act – which outlines Canada’s sanctions – will be updated to allow, among other things, the federal government to “take financial action” in situations where international peace and security violations have taken place. , when there are acts of “significant corruption” or when systematic human rights violations have been committed in a foreign state or acts of significant corruption. Through changes in the law, Canada could be empowered to order the seizure of existing property, and the money raised could then be used to help rebuild a war-torn country to compensate victims of human rights abuses. or corruption or generally help restore peace and security. “Today, we are seeking the ability not only to seize but also to allow the confiscation of the assets of individuals and entities subject to sanctions and to allow us to compensate victims with revenue,” said Secretary of State Melanie Joly, adding that Canada will be the first G7 country to have sanctions regime that allows such actions. From top politicians to influential oligarchs and industry giants, Canada has imposed sanctions on more than 1,000 individuals and entities it considers complicit in the current Russian offensive in Ukraine. Sanctions so far have only allowed the freezing of Canadian assets along with other bans. It remains unclear how many of the entities or individuals sanctioned by Canada have assets that could be accessed by the Canadian authorities through these powers. The move appears to reflect a Senate proposal by Senator Ratna Omidvar, which seeks to see Canada seize and reuse frozen assets.
PART OF THE FUTURE BUDGET
These new powers are outlined ahead of an impending broad Budget Implementation Act that will proceed with the implementation of hundreds of pages of legislative amendments resulting from commitments made in the 2022 federal budget. Called the “Ways and Means” resolution, the wording, which was tabled in the House of Commons on Tuesday, essentially serves as a warning to MEPs about what the budget bill will include when it is tabled, a move expected in the coming days. It is a process specific to budgets and the language presented in the proposal should be introduced through legislation and moved through the legislative procedures of Parliament and the Senate. The proposal also includes plans to update the Penal Code, copyright law, customs law, immigration and refugee protection law, correction and parole law, and the Canadian Parliament, among many others. other legislative amendments. was pointed out in some way in the budget document of 7 April. Although vaguely worded, the government stated in the budget that it intended to continue working with allies and to clarify the powers of the Foreign Ministers regarding the ability to “target the assets and illicit profits of Russia’s elites and those acting on their behalf.” “This includes using resources to locate, freeze and seize assets to ensure that sanctioned individuals and entities can no longer access their resources and wealth abroad,” the budget states. . Despite the expected general nature of the forthcoming bill, there is little doubt about whether or not it will pass, as the NDP has reached an agreement with the Liberals to support their budgets and other confidence issues until 2025. It remains to be seen how long it will take to pass the huge bill. The most recent and much shorter bill moving through fiscal measures since the December 2021 fiscal update still works in Parliament.
