Canada Seeks Russian Funds for Ukraine
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Canada's plan to fuel Ukraine's war effort with Russian cash

72% Informative
Canada is set to take its first steps toward expropriating assets held by the Russian government and sanctioned Russian citizens to help fund Ukraine ’s war effort.
Canada has been leading the push among allies to expropriate Russian cash for Ukraine .
Critics warn such a move could violate international law and give adversaries an excuse to steal private property.
Russia ’s central bank holdings at the beginning of 2022 included roughly $24 billion denominated in Canadian dollars.
Most Russian holdings abroad sit in European banks.
Canada helped design a system, announced last summer , which allows Ottawa to use the revenues generated by these accounts in Europe to secure $5 billion in loans for Ukraine .
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