Who should get Roman Abramovich's money? That's part of the question that's emerging as the Canadian government moves to seize the assets of sanctioned Russian businesses and oligarchs. This week, Foreign Minister Mélanie Joly announced the government would make an application to seize and forfeit about $36 million from Granite Capital Holdings Ltd., a firm owned by Abramovich. The Russian tycoon is close to President Vladimir Putin and had been the owner of the Chelsea Football Club in England until May. He has a net worth of $8.7 billion and been also sanctioned by the U.K., EU, Australia and Switzerland, according to the Forbes magazine. Global Affairs Officials said the order to seize the asset has been issued and a court application will be filed in 30 days in the province where the asset is based. It's the first time Canada is using new authority, granted in the budget bill in June, to pursue the seizure of assets belonging to sanctioned individuals. "We have warned Putin and his enablers that they would not be able to hide from the consequences of their actions. … Canada will continue to pressure the Russian regime and those who have benefited from Putin's barbaric… Read full this story
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