The Minister of Foreign Affairs is responsible for the administration and enforcement of the Special Economic Measures Act (SEMA), as well as its regulations. 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.
Since February 24, 2022, the RCMP reports that a total approximate CAD equivalent of $135,844,725.87 of assets in Canada have been effectively frozen and a total approximate CAD equivalent of $305,684,144.96 in financial transactions have been blocked as a result of the prohibitions in the SEMA Russia Regulations..
Additionally, $78,838.00 CAD of assets in Canada have been frozen as a result of the SEMA Iran Regulations and there have been no reports of frozen assets under the SEMA Haiti Regulations.
The RCMP continues to receive new information disclosed in accordance with SEMA, including amendments to previous disclosures from reporting entities. As such, the figures provided by the RCMP are subject to change.