Russia fights back as Canada moves to seize cargo plane
The Russian company "Volga-Dnepr" is trying to prevent the confiscation of an An-124 aircraft in Canada. The aircraft has been detained since 2022, and the Canadian Attorney General is seeking its seizure by the state. The case could impact international sanctions regulations.
A heated legal battle is underway 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 due to Russia's actions in Ukraine.
The Canadian Attorney General has filed a motion for its confiscation, which has faced protests from the Russian company.
"Volga-Dnepr" argues that Canada's actions are illegal and compares them to "pirate seizure." The company has requested temporary preventive measures to halt the confiscation until the dispute is resolved by an arbitration tribunal.
The resolution will have consequences
The case could have broad implications for international investment law, comments "Kommersant."
The decision in this case might influence how other countries approach sanctions and the confiscation of foreign assets. Experts emphasize that Canada is setting a precedent among G7 countries, which could change the way assets of sanctioned entities are treated.
