Canada plans to use frozen Russian assets to loan Ukraine up to $5 billion for its war effort.

Canada plans to use frozen Russian assets to fund Ukraine's war effort, aiming to secure a $5 billion loan for Kyiv. This move involves using interest from Russia's accounts in European banks. The plan, led by Prime Minister Justin Trudeau, tests international law by utilizing a legal doctrine that permits non-violent reprisals against a state's wrongful acts. Canada has already frozen $140 million in Russian assets locally and blocked $317 million in transactions. The plan faces legal and political challenges but aims to support Ukraine's response to the Russian invasion.

March 01, 2025
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