International momentum is growing to seize Russian state assets, including central bank reserves, topay for rebuilding a post-war Ukraine instead of expecting western taxpayers to foot the bill. Canada has moved beyond sanctions, freezes and seizure of private assets to pave the way to seizingstate assets — and other countries are poised to follow suit. But will seizing Russian state assets discourage Russia from ending the war? Or is it instead a new tool for peacemaking? Canada leads the world with its recent amendment to the Special Economic Measures Act (SEMA) allowing the seizure of Russian state assets in addition to private assets to rebuild Ukraine. But there’s concern it could lead to a loss of leverage with Russia in terms of efforts to pressure it to end the war.