Canada has passed a bill that would allow the confiscation and sale of seized Russian assets

The Canadian Senate has approved Prime Minister Justin Trudeauʼs budget, adopting a long list of measures that include a two-year ban on foreigners buying homes and the right to confiscate and sell assets seized in response to Russiaʼs invasion of Ukraine.

This was reported by Reuters.

The upper house passed the 450-page C-19 bill without change. After the formal "royal consent", it will become law.

The Canadian government will be allowed to confiscate and dispose of the assets of individuals and organizations that have been sanctioned by Russiaʼs invasion of Ukraine to use these funds to support Ukraine.

In April, the government drafted a budget to increase housing affordability with new funding and a promise to ban foreign investors from buying Canadian homes for two years.

Canada will also amend tax laws, the penal code and immigration regulations. Budget expenditures remain significant, albeit lower than in the previous two years, even as inflation rises sharply.

• On June 8, Canada imposed another package of anti-Russian sanctions over Russiaʼs invasion of Ukraine. Restrictions affected bans on the export of 28 services that are vital to the oil, gas and chemical industries. These are technical, managerial, accounting and advertising services.
• On May 31, Canada imposed new sanctions on 22 Russian citizens and four Russian companies.