Russia to Take Retaliatory Measures if Canada Confiscates Russian Assets — Ambassador

Oleg Stepanov said Ottawa should consider the legal, investment and reputational consequences "of such ‘lawmaking’"

Russian Ambassador to Canada Oleg Stepanov Russian Embassy in Canada's official website

© Russian Embassy in Canada's official website

MOSCOW, October 7. /TASS/. Russia will respond immediately if Canada confiscates Russian assets, Russian Ambassador to Canada Oleg Stepanov said.

In an interview with Izvestia, the diplomat recalled that Bill S-214 on sovereign assets completed its Senate stage on May 26 and moved to the House of Commons for consideration. At the same time, Bill C-219 is being developed, providing 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 the authors mean by ‘Russian assets,’ and where in Canada they intend to look for them. In any case, Russia’s position on such encroachments on property, whether in Canada or elsewhere, is well known. Such actions are illegal and will prompt an immediate response from our side," Stepanov stressed. In the ambassador’s view, "politicians in Ottawa should, more broadly, consider the legal, investment and reputational consequences for their country of such ‘lawmaking.’"

The diplomat also addressed the property dispute over the An-124 RA-82078 aircraft operated by Volga-Dnepr Airlines, which has been at Toronto airport since February 2022. "The company continues to seek the return of the aircraft through legal means. Our position remains unchanged: the aircraft must be returned to its owner, and if it is confiscated, Russia reserves the right to take retaliatory property-related and other measures," the ambassador explained.