Mr. Speaker, the Minister of Foreign Affairs is responsible for the administration and enforcement of the Special Economic Measures Act, or SEMA, as well as its regulations. Every person in Canada and all Canadians outside of Canada must disclose to the RCMP the existence of property in their possession or control that is believed to be owned or controlled by a designated person.
Global Affairs Canada has not reported any assets to the RCMP concerning sanctions in relation to Russia, Belarus or the Ukraine conflict. The RCMP’s role under SEMA consists of collecting information on assets owned or controlled by a designated person from financial institutions, entities and individuals.
From February 24, 2022, to June 7, 2022, the RCMP reports that a total approximate equivalent of $123,031,866.85 Canadian in assets in Canada have been effectively frozen and a total approximate equivalent of $289,090,090.74 Canadian in transactions have been blocked as a result of the prohibitions in the SEMA Russia regulations.
Given restrictions under the Privacy Act, no further information can be provided on these figures at this time.