Reporting of frozen assets under the Special Economic Measures Act - Russia Regulations

May 12, 2022
Ottawa, Ontario

Statement

The Minister of Foreign Affairs is responsible for the administration and enforcement of the Special Economic Measures Act (SEMA), as well as its regulations as it pertains to listed designated persons. Every person in Canada and all Canadians outside of Canada must disclose to the RCMP the existence of property in their possession or control that is believed to be owned or controlled by a designated person.

One of the RCMP's roles under SEMA is to collect information on assets owned or controlled by a designated person.

As a result, the RCMP reports that approximately 85M in assets have been frozen and more than $253M in payments have been blocked in relation to the SEMA Russia Regulations.

Given restrictions under the Privacy Act, no further information can be provided on these figures at this time; however, they will be updated periodically.

–30–

Date modified: