On Tuesday, April 26, the Senate will hold the third hearing of the Bill S-217 (Frozen Assets Repurposing Act) sponsored by Senator Ratna Omidvar.

The Bill has a broad context. But, if transposed onto the case of Ukraine, the Bill envisages the seize of frozen russian assets in Canada and their further distribution, upon the court’s decision, to Ukrainian people and businesses who suffered during the horrific war unleashed by russia. For over 61 days russian army is bombing Ukrainian cities, destroying homes, hospitals, schools, cultural heritage and country’s infrustructure. Millions of people left their homes and currently lost them due to the severe bombing and missile attacks. Hundreds of companies have their facilities totally destroyed.

The estimated damage inflicted to Ukraine by Russia’s war amounts to hundreds of billions of US dollars. As putin keeps on waging his war of choice against Ukraine, these damages are apparently on the rise.

The immense figures of Ukraine’s economic losses equally allow us to realize the extent of the anticipated rebuilding plan for Ukraine. Russian seized assets should be a part of this plan.    

Embassy of Ukraine expresses our backing of the mentioned draft law. We believe it is absolutely fair that russian state property or ill-gotten assets of russian oligarchs must become a part of reparations by the aggressor state to the victim of the aggression.  

By passing the Bill S-217 Canada will demonstrate leadership and could set an example for others to follow and show that russian kleptocratic corrupt regime will pay the full cost of its crimes against Ukraine.  

Hence, we very much hope the Bill will be adopted in the third reading and promptly pass all further legislative procedures to eventually become the law.