Reporting of frozen assets under the Special Economic Measures Act

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 under the Special Economic Measures Act (SEMA). While the Minister of Foreign Affairs is responsible for the administration and enforcement of Special Economic Measures Act, as well as its regulations, one of the RCMP's roles under Special Economic Measures Act is to collect information on assets owned or controlled by a designated person and disclose this information periodically.

Since February 24, 2022, the RCMP can report that:

• A total approximate Canadian dollars (CAD) equivalent of $185,064,699.05 of assets in Canada have been effectively frozen and a total approximate CAD equivalent of $473,159,857.68 in financial transactions have been blocked as a result of the prohibitions in the Special Economic Measures (Russia) Regulations.
• A total approximate CAD equivalent of $149,004.49 of assets in Canada have been effectively frozen and a total approximate CAD equivalent of $393,591.84 in financial transactions have been blocked as a result of the prohibitions in the Special Economic Measures (Belarus) Regulations.
• $78,838.00 CAD of assets in Canada have been frozen as a result of the prohibitions in the Special Economic Measures (Iran) Regulations.
• A total approximate CAD equivalent of $16,885.52 in financial transactions have been blocked as a result of the prohibitions in the Special Economic Measures (Haiti) Regulations.

These are the most recent figures available effective December 19, 2024. The RCMP continues to receive new information disclosed in accordance with Special Economic Measures Act, including amendments to previous disclosures from reporting entities. As such, the figures provided by the RCMP are subject to change.