Canada to seize assets of sanctioned Russian oligarch Abramovich

The Canadian government said on Monday it will start the process to seize and pursue the forfeiture of $26 million from Granite Capital Holdings Ltd, a company owned by sanctioned Russian oligarch Roman Abramovich, reports citing Al Arabiya.

The move marks the first case of the Canadian government using new powers to pursue the seizure of assets belonging to sanctioned individuals, the foreign ministry said in a statement.

Foreign Minister Melany Joly will now consider making a court application for asset forfeiture.

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