Canada announced the beginning of the process of arrest and confiscation of Abramovich's assets

The authorities intend to seize $26 million from Granite Capital Holdings Ltd., which is associated with Roman Abramovich.Russian businessman has been under Canadian sanctions since springRoman AbramovichRoman AbramovichRoman Abramovich

CANADA has begun a process to seize and confiscate the assets of sanctioned Russian businessman Roman Abramovich, Foreign Minister Mélanie Joly said.

Joly said the government intends to seize $26 million from Granite Capital Holdings Ltd., which the authorities have linked to Abramovich.

The statement notes that for the first time, Ottawa is taking advantage of the opportunity to confiscate the property of sanctioned individuals . “This means that Minister Joly will be able to apply to the COURT for the forfeiture of assets in favor of the crown,” it says. The confiscated assets can be used to restore Ukraine and compensate the victims of hostilities.

Jersey police apologize to Abramovich for searches Politics

RBC sent a request to a representative of Roman Abramovich.

Russian Ambassador to Canada Oleg Stepanov considered the actions of the Canadian side "a robbery and another confirmation that the inviolability of private property in Canada and other Western countries has ceased to exist." “The Embassy does not recommend doing business with her for the foreseeable future. Its value as a trade partner of RUSSIA is currently, unfortunately, zero,” he told TASS.

The Granite Capital Holdings website states that the company provides asset management services.

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Abramovich was included in the sanctions list of Canada in March of this year. It is also under the sanctions of the EU, the UK and a number of other countries.