Mr. Chair, I thank the member for the question.
There are two things that we should be focusing on here. Actually, there are two parts to the question.
Legislation was passed to update our sanction regime. This provided a means to seize assets by following a legal process under the regime, which in turn makes it possible to sell these assets and give the proceeds to the victims of the conflict in Ukraine.
The $5 billion you're referring is part of a different scheme. This scheme is the result of an agreement between the G7 and European countries to leverage the bank accounts or currency reserves owned by the Russian government in our respective countries. That money is not seized and directly transferred to the victims of the conflict in Ukraine. Instead, we use it collectively as collateral. That money will continue to be frozen for a long period of time to be used as capital for a loan.
Where exactly are we in terms of Canada's commitment to that $5 billion? To answer that question, I would have to check with my colleagues at the Department of Finance. We'll provide a written response to the committee, if that's okay.