Russian Ambassador Warns of Immediate Response if Canada Seizes Russian Assets

Dragon Media Newsroom

Russia will take immediate retaliatory measures if Canada seizes Russian assets, Russian Ambassador to Canada Oleg Stepanov has warned. He said politicians in Ottawa should consider the legal, investment and reputational consequences of enacting such legislation.

In an interview with Izvestia, Stepanov said Bill S-214, concerning sovereign assets, completed its Senate stage on May 26 and moved to the House of Commons for consideration. He also noted that Bill C-219 was being developed to provide for the disposal of assets belonging to sanctioned individuals and entities, including the possibility of transferring them to state ownership.

“It is difficult to say what is meant by ‘Russian assets’ or where in Canada they intend to look for them. But Russia’s position on such encroachments on property, in Canada or elsewhere, is clear. Such actions are illegal, and Russia will respond immediately,” Stepanov said.

The ambassador also commented on the Volga-Dnepr Airlines An-124 aircraft that has been held at Toronto airport since February 2022. He said the company continued to seek the aircraft’s return through legal means. The aircraft must be returned to its owner, Stepanov said, adding that if it is confiscated, Russia reserves the right to take retaliatory measures related to property and other actions.