June 27, 2022

Canada can now seize, sell off Russian assets. What's next?

Featuring Rachel Ziemba

Source: CBC News

Journalist Janyce McGregor

"Ukraine, historically... has struggled with corruption issues," said Rachel Ziemba, an adjunct senior fellow with the Centre for a New American Security who advises companies and countries on sanctions policy. "There have been a lot of strides made... but it's still not at the level of a developed economy."

Working through the International Monetary Fund, or setting up a trust fund that would vet recipients and add more reporting to the process could add more certainty, she suggested.

Russian central bank has reserves in Canada

Taxpayers in Canada, the U.S. or other countries don't want to bear the full cost of this war, Ziemba said, but as governments embark on asset seizures they also have to be concerned about the message it sends on what jurisdictions are safe for foreign investment.

"There are a lot of legal questions ahead," she said.

Read the full story and more from CBC News.

Authors

  • Rachel Ziemba

    Adjunct Senior Fellow, Energy, Economics, & Security Program

    Rachel Ziemba is an Adjunct Senior Fellow at the Center for a New American Security (CNAS). Her research focuses on the interlinkages between economics, finance and security i...