Russia's battle over An‑124 sparks global sanctions debate
The Russian company "Volga-Dnepr" is making efforts to stop the confiscation of an An-124 aircraft in Canada. The aircraft has been held since 2022, and the Canadian Attorney General is seeking its seizure by the state. The outcome may affect international sanctions regulations.
An intense legal battle is taking place in Canada over the An-124 aircraft owned by the Russian company "Volga-Dnepr," reports "Kommersant." The aircraft was detained in 2022 after arriving with COVID-19 tests from China, linked to Russia's attack on Ukraine.
The Canadian Attorney General has filed a motion for its confiscation, which the Russian company is contesting.
"Volga-Dnepr" argues that Canada's actions are illegal, likening them to "pirate seizure." The company has requested temporary preventive measures to halt the confiscation until an arbitration tribunal resolves the dispute.
The resolution will have consequences
The case could have broad implications for international investment law, notes "Kommersant."
The decision in this case could influence how other countries approach sanctions and the confiscation of foreign assets. Experts note that Canada is setting a precedent among G7 countries, which could alter the treatment of assets belonging to sanctioned entities.
