Canada to provide Ukraine with military assistance worth $1.5B

Canada has announced a new package of military assistance to Ukraine worth 2 billion Canadian dollars (approximately $1.5 billion).

Canadian Prime Minister Mark Carney announced this intention during a meeting with Ukrainian President Volodymyr Zelenskyi on the sidelines of the G7 summit.

Part of these funds will be used for Ukraine’s domestic defense production.

“We are providing Ukraine with additional military assistance: drones, helicopters and ammunition. We are talking about more than two billion dollars in direct military support to Kyiv,” Carney said.

In addition, the Prime Minister announced the expansion of sanctions against the Russian Federation.

According to him, restrictions are imposed on a number of individuals and more than 40 organizations both in Russia and abroad. The sanctions also include companies that help Moscow to evade existing restrictions.

Canada has also imposed sanctions on more than 200 vessels of Russia’s so-called shadow fleet,  which is used to transport oil in violation of international bans.

In addition to direct assistance, Canada will provide Ukraine with a $2 billion loan. The interest on this loan will be covered by profits from frozen Russian assets.

The day before, Volodymyr Zelenskyi arrived in Canada to participate in the G7 summit, which is taking place this year in Kananaskis.

The Ukrainian president is expected to take part in a special meeting of G7 leaders titled A Strong and Sovereign Ukraine.

During the summit, the leaders of the G7 – the United States, the United Kingdom, Germany, France, Italy, Japan, and Canada – are discussing a number of global challenges. The key topics include the war in Ukraine, the situation in the Middle East, trade, artificial intelligence, energy security, and the fight against forest fires.

Earlier it was reported that part of Canada’s assistance will be used to purchase drones, armored combat vehicles, pilot training, ammunition, small arms, vehicles and other equipment.