The Minister of Foreign Affairs is responsible for the administration and enforcement of the Special Economic Measures Act (SEMA), as well as its regulations as it pertains to listed designated persons. 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.
One of the RCMP’s roles under SEMA is to collect information on assets owned or controlled by a designated person.
From February 24 to June 7, 2022, the RCMP reports that a total approximate CAD equivalent of $123,031,866.85 of assets in Canada have been effectively frozen and a total approximate CAD equivalent of $289,090,090.74 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; however, they will be updated periodically.
