QUESTION PERIOD — Global Affairs
Support for Ukraine
April 23, 2026
My question is for Senator Moreau. Two days ago, with a new government elected in Hungary, the EU announced a go-ahead of its planned loan of €90 billion to Ukraine, backed by frozen Russian assets.
These are two pieces of positive news: a new government in Hungary and the go-ahead of the planned loan.
In a related development, recently this government passed the Budget Implementation Act, or BIA, Bill C-15, with provisions to provide for the seizing of profits gained from the frozen assets of sanctioned entities.
Senator Moreau, can you update this chamber on the government’s timeline to implement regulations for these provisions?
As you know, the Canadian government is unwavering in its support of Ukraine in defending its territorial integrity and freedom.
You were referring to the BIA to amend the Special Economic Measures Act to provide the profit from seized Russian assets to Ukraine. There are multiple departments that are involved, from Finance, which would receive the monetary sums, to Global Affairs Canada, which would oversee the transfer to Ukraine. It’s a commitment of the government. I can, however, tell you that regulation related to the Special Economic Measures Act has been updated as recently as April 8 to continue tracking and sanctioning Russian assets. As part of the Group of Creditors of Ukraine, Canada has supported the suspension of debt service due by Ukraine until the end of February 2030.
