CANADA HAS ADOPTED A BILL WITH POWERS TO FORFEIT AND REDISTRIBUTE SANCTIONED CANADIAN ASSETS 

On 7 July, the EU Sanctions blog reported that a Budget Bill which has received Royal Assent on 23 June and includes provisions that allow for the proceeds of forfeiture may be used for defined purposes.  Canada has become the first G7 nation to provide for the forfeiture and redistribution of sanctioned assets. It is expected that other major Western nations, including the UK, will follow suit shortly.

https://www.europeansanctions.com/2022/07/canada-adopts-powers-to-forfeit-redistribute-sanctioned-assets/

https://www.mondaq.com/canada/export-controls-trade-investment-sanctions/1209086/canada-imposes-further-sanctions-against-russia-and-belarus-as-unprecedented-asset-forfeiture-mechanism-comes-into-force

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