Canada contributing $5 billion to new G7 deal being finalized to help Ukraine using frozen Russian assets

7 months ago 21

Canada will contribute $5 billion to a new plan to help Ukraine in its fight against Russia as G7 leaders meet in Italy, according to a government official.

PM Justin Trudeau expected to meet with Ukrainian President Volodymyr Zelenskyy Thursday

Ashley Burke · CBC News

· Posted: Jun 13, 2024 7:33 AM EDT | Last Updated: 19 minutes ago

From left, European Council President Charles Michel, German Chancellor Olaf Scholz, Canada's Prime Minister Justin Trudeau, French President Emmanuel Macron, Italian Prime Minister Giorgia Meloni, U.S. President Joe Biden, Japan's Prime Minister Fumio Kishida, Britain's Prime Minister Rishi Sunak and European Commission President Ursula von der Leyen pose for a group photo during a G7 world leaders summit at Borgo Egnazia, Italy, Thursday, June 13, 2024.

Canada will contribute $5 billion to a new plan to help Ukraine in its fight against Russia as G7 leaders meet in Italy, according to a government official.

Prime Minister Justin Trudeau and the other leaders of seven of the world's advanced economies are finalizing a new deal to use frozen Russian assets to help Ukrainian President Volodymyr Zelenskyy after Russian gains on the battlefield.

A government official said Canada's new financial contribution will be part of that deal that's being worked out. The U.S., with Canada's support, has proposed using the interest on roughly 200 billion euros in frozen Russian assets held mostly in Europe to secure a $50 billion US bank loan for ongoing support for Ukraine.

The Canadian announcement comes ahead of Trudeau's meeting with Zelenskyy Thursday in Italy.

WATCH | Conflicts in Ukraine and Gaza loom over G7 summit in Italy:

Conflicts looms over G7 summit in Italy

Prime Minister Justin Trudeau is in Italy for this year's G7 summit. The wars in Ukraine and Gaza, climate change and many other divisions loom over the meeting, which includes leaders from the European Union and Pope Francis.

Ukraine is in dire need of more weapons, ammunition and training after a long lull in deliveries from Washington. U.S. Congress approved a $61 billion US military aid package for Ukraine last month, but only after political conflict within the Republican Party delayed the package for six months.

Defence Minister Bill Blair met with the Ukraine Defence Contact Group in Belgium Wednesday and announced plans to send the first shipment of 2,000 decommissioned rocket motors used by the Royal Canadian Air Force to Ukraine.

Canada will also donate close to 30 Nanuk remote weapons systems, which is a remotely controlled weapons station that can be used on armoured vehicles. Blair also said the government is sending more than 130,000 rounds of small arms ammunition to Ukrainian troops.

Trudeau is taking part in a series of working sessions on Thursday with G7 leaders about the conflicts in Ukraine and Gaza, along with development in Africa and climate change.

He's scheduled to have bilateral meetings with French president Emmanuel Macron and German chancellor Olaf Scholz on Thursday.

Clockwise from left, European Council President Charles Michel, German Chancellor Olaf Scholz, Canada's Prime Minister Justin Trudeau, French President Emmanuel Macron, Italian Prime Minister Giorgia Meloni, U.S. President Joe Biden, Japan's Prime Minister Fumio Kishida, Britain's Prime Minister Rishi Sunak and European Commission President Ursula von der Leyen participate in a working session during a G7 summit at Borgo Egnazia, Italy, Thursday, June 13, 2024.

ABOUT THE AUTHOR

Ashley Burke is a senior reporter with the CBC's Parliamentary Bureau in Ottawa. She was recognized with the Charles Lynch Award and was a finalist for the Michener Award for her exclusive reporting on the toxic workplace at Rideau Hall. She has also uncovered allegations of sexual misconduct in the Canadian military. You can reach her confidentially by email: ashley.burke@cbc.ca

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