Canada’s Conservatives Pledge $16B in Russian Assets to Ukraine

Canada’s Conservative Party has pledged to transfer over C$22 billion (more than US$16 billion) in frozen Russian assets to Ukraine if it wins the country’s upcoming federal election, The Gaze reports.

According to the Conservative Party’s official website, party leader Pierre Poilievre vowed that a future Conservative government would move quickly to provide Ukraine with the frozen funds to support its defence against Russia’s invasion.

“The Conservative Government will provide $22 billion worth of frozen Russian assets to Ukraine for their heroic defence of their country against Putin’s vicious and illegal invasion,” Poilievre said.

Highlighting the party’s longstanding support for Ukraine, Poilievre noted that Russia’s aggression began long before 2022. Under former Prime Minister Stephen Harper, the Conservative government launched Operation UNIFIER to train Ukrainian troops and pushed for Russia’s expulsion from the G8.

Poilievre also referenced the Sergei Magnitsky Law—introduced by Conservatives—which allows Canada to impose sanctions on foreign officials involved in human rights abuses, including Russian oligarchs connected to the Kremlin.

“As Prime Minister, I will send these frozen funds to the Ukrainians so they can continue to resist Putin’s war machine, and so they have funds to rebuild their country and repair the damage Putin has done,” Poilievre said.

He recalled his remarks made just hours after Russia’s full-scale invasion began in 2022, addressing a rally in Ottawa: “Canadians stand in total solidarity with you, and we will be by your side throughout.”

As The Gaze previously reported, Japan will provide Ukraine with a loan of about $3bn under the G7 ERA mechanism using frozen Russian assets.

Read more on The Gaze: "No More Waiting": Davos Calls On the West to Transfer Russian Assets to Ukraine