News Feed, Canada, G7, Loan, Financial aid, Military aid, Ukraine

Canada disbursing 1st tranche of its G7 loan contribution for Ukraine

by Martin Fornusek February 24, 2025 12:54 PM 1 min read

Canadian Prime Minister Justin Trudeau arrives for a meeting at the North Atlantic Treaty Organization (NATO) Summit in Washington, D.C., on July 11, 2024. (Kent Nishimura/Getty Images)

This audio is created with AI assistance

Canada is disbursing the first installment of 5 billion Canadian dollars ($3.5 billion) it contributed to the G7's $50 billion loan for Ukraine, Canadian Prime Minister Justin Trudeau announced on Feb. 24.

The G7 loan, shouldered mainly by the U.S. and the EU, will be repaid by proceeds from roughly $300 billion in Russian assets held in Western bank accounts. The Canadian prime minister did not specify the sum of the first installment.

Speaking at the Support Ukraine summit in Kyiv, Trudeau also announced new military support for the besieged country.

This assistance will include 25 LAV III infantry fighting vehicles, two combat support vehicles, and four F-16 flight simulators, provided "on top of million rounds of ammunition, components for drone cameras, and first aid kits," Trudeau said.

Since the outbreak of the full-scale war, Canada has allocated 4.5 billion Canadian dollars ($3.2 billion) in military assistance to Ukraine, a figure that includes future commitments through 2029.

Author: Martin Fornusek

Comments

News Feed

5:52 PM

Lithuania's Nauseda proposes 2030 as Ukraine's EU accession date.

Speaking at the Support Ukraine summit in Kyiv, Lithuanian President Gitanas Nauseda called for decisive leadership to accelerate Ukraine's integration.

5:42 PM

Video

Three years of Russia's full-scale war: a conversation with Rob Lee.

The Kyiv Independent’s Francis Farrell sits down with Rob Lee, former U.S. marine infantry officer and senior fellow at the Foreign Policy Research Institute’s Eurasia Program. They discuss the evolving battlefield realities as Russia’s war on Ukraine enters its 4th year and why peace negotiations are unlikely to bring results any time soon.

5:33 PM

Opinion

‘It’s not the end’ — Kyiv Independent staff on what they’d tell themselves right before Russia's invasion

5:03 PM

Around 165,000 Russian troops killed in Ukraine, media reports.

Using open-source research and statistical analysis, a report by independent Russian media outlets Meduza and Mediazona suggests that Russian losses have increased each year.

4:17 PM

Russia has launched over 30 mass strikes on Ukraine's energy system in 3 years, ministry says.

Losses from Russian attacks amount to "billions of dollars," according to Energy Minister Herman Halushchenko.

2:06 PM

(Updated: February 24, 2025 4:03 pm)

Starmer announces UK's largest package of Russia sanctions, confirms readiness to deploy peacekeepers in Ukraine.

The U.K. is imposing its largest-ever package of sanctions against Russia, targeting its "shadow fleet" of tankers and foreign-based companies providing military parts to Russia, U.K. Prime Minister Keir Starmer said on Feb. 24.

3:53 PM

When your 'ass is burning, you start to move faster' — Lithuanian minister urges Europe to step up defense.

"So I do hope that we will start to move faster in the next few months," Lithuania's defense chief said at the YES conference event held in Kyiv by the Victor Pinchuk Foundation on Feb. 24, the third anniversary of the Russian full-scale invasion.

3:43 PM

US reportedly urges UN to back its Ukraine resolution not naming Russia as aggressor.

The U.S. version of the resolution, dubbed as the "Path to Peace," is aimed at ending the war, Suspilne reported. The draft reportedly does not name Russia the aggressor, but calls for "an immediate end to the conflict."

3:07 PM

Spain to provide Ukraine with military aid package worth over $1 billion in 2025.

"We are ready to continue to provide military assistance and equipment with even more determination than we have in the past," Spanish PM Pedro Sanchez said.

2:59 PM

Moscow open to ceasefire only when talks yield results that 'suit Russia,' Lavrov says.

Sergey Lavrov's comments come as the White House announced that a peace deal with Russia could be hashed out this week.

2:36 PM

Boris Johnson backs Trump's deal on Ukraine's natural resources.

"The deal should be signed," Boris Johnson said, speaking at the YES conference event held in Kyiv by the Victor Pinchuk Foundation on Feb. 24, the third anniversary of the Russian full-scale invasion. "It commits the U.S. to a free and sovereign Ukraine. A continued American support is well worth the price for Ukraine."

2:13 PM

Nordic countries to provide Ukraine with additional humanitarian, military, energy aid.

The Nordic governments' statements coincided with their leaders' visits to Kyiv on the anniversary of the beginning of the all-out war.

1:21 PM

Ukraine-US talks on natural resources deal in 'final stages,' Deputy PM says.

"We are committed to completing this (deal) swiftly to proceed with its signature," Stefanishyna said on X. While praising the talks as "constructive," Deputy Prime Minister Stefanishyna did not provide any details on the deliberations or the content of the deal.

12:54 PM

Canada disbursing 1st tranche of its G7 loan contribution for Ukraine.

Canadian Prime Minister Justin Trudeau also announced new military assistance, including 25 LAV III infantry fighting vehicles, two combat support vehicles, and four F-16 flight simulators.

12:29 PM

EU to provide Ukraine with $3.7 billion tranche in March.

"Europe is here to strengthen Ukraine in this critical moment. I can announce that a new 3.5 billion euros ($3.7 billion) payment for Ukraine will arrive already in March," European Commission President Ursula von der Leyen said.

12:13 PM

All-for-all prisoner exchange could be step toward peace, Zelensky says.

"Thousands of people are being held in Russia. And some of them have been held not only since 2022, but much longer, since 2014," President Volodymyr Zelensky said.

11:38 AM

Zelensky sent Trump list of all 'ceasefires' violated by Russia.

"When General (Keith) Kellogg was in Kyiv, I handed him and the U.S. president a document with all ceasefires, along with specific dates, that Russia had violated," President Volodymyr Zelensky said.

11:30 AM

Kallas to visit US to meet Rubio, discuss peace efforts in Ukraine.

Kaja Kallas suggested that "the messages coming out of the U.S." regarding the elections in Ukraine suggest that "the Russian narrative is very strongly represented there."

11:07 AM

Russian consulate in Marseille attacked with Molotov cocktails, media reports.

Local media reported a blast near the Russian consulate building in the southern French city and firefighters working on site. No casualties were reported.

10:47 AM

Ukrainian drones reportedly strike Russian refinery in Ryazan Oblast for 3rd time in 2025.

The Ryazan Oil Refining Company's facility was previously struck overnight on Jan. 24 and Jan. 26.

8:10 AM

(Updated: February 24, 2025 10:13 am)

European leaders arrive in Kyiv on 3rd anniversary of full-scale war.

"In this fight for survival, it is not only the destiny of Ukraine that is at stake. It’s Europe’s destiny," European Commission President Ursula von der Leyen said.

10:12 AM

EU officially adopts 16th package of sanctions against Russia.

The new measures, announced on the third anniversary of the all-out war, target Russia's "shadow fleet" of oil tankers, banks, aluminum imports, and other sectors.

9:40 AM

Australia, New Zealand impose new sanctions against Russia.

Australia has introduced the most extensive package of sanctions since the beginning of the all-out war, while New Zealand imposed restrictions on over 50 individuals and entities.

9:25 AM

1 killed, 5 injured in Russian attacks; Moscow launches mass drone strike on full-scale war's anniversary.

Russia launched a massive drone attack on the third anniversary of its full-scale invasion, deploying 185 Shahed-type attack drones and decoy drones. Ukrainian air defenses shot down 113 drones over 12 oblasts, while 71 decoy drones were lost without causing damage, the Air Force reported.

1:37 AM

(Updated: February 24, 2025 8:34 am)

CDU/CSU wins German elections as Merz calls for Europe's autonomy.

Germany’s center-right CDU/CSU is set to return to power, with the far-right Alternative for Germany (AfD) emerging as the second-largest party, according to preliminary results of the Feb. 23 parliamentary elections.

MORE NEWS

Canada disbursing 1st tranche of its G7 loan contribution for Ukraine

Most popular

Over 10,000 applications to join military submitted by young recruits following introduction of 'special contracts,' Defense Ministry says

Russia offering US deal on natural resources, access to Arctic

'You can't kill your way out of this war' — Kellogg calls for sanctions against Russia's shadow fleet, concessions from Ukraine to end war

US threatens to shut off Starlink if Ukraine won't sign minerals deal, sources tell Reuters

Russia's Lavrov rules out territorial concessions as part of Ukraine peace talks