Ukraine has received the first installment of 2.5 billion Canadian dollars (approximately $1.7 billion) from Ottawa under the G7's Extraordinary Revenue Acceleration (ERA) initiative, the Ukrainian Finance Ministry announced on March 13.
The $50 billion ERA mechanism provides loans to Ukraine, which will be repaid using future profits from frozen Russian assets.
According to the Ukrainian Finance Ministry, Canada’s contribution to the initiative amounts to $3.5 billion, with the loan set to be issued for a 30-year term.
"Canada is a reliable and steadfast partner of Ukraine. I am grateful for its support of the ERA mechanism—it is a fair and necessary tool to hold Russia financially accountable for its crimes in Ukraine," said Ukrainian Finance Minister Serhii Marchenko.
Since Russia's full-scale invasion in 2022, G7 countries have frozen approximately $300 billion in Russian sovereign assets.
The ERA initiative, primarily supported by the U.S. and the EU, seeks to utilize profits from these frozen assets to fund Ukraine's defense and reconstruction efforts.
Alongside Canada's contribution, Kyiv has also received £752 million ($970 million) as the first installment of the U.K.'s contribution to the G7 loan, Prime Minister Denys Shmyhal announced on March 7.
Pakistan has announced it will appoint an ambassador to Afghanistan for the first time since the Taliban took control of Kabul in 2021, becoming the fourth country—after China, the United Arab Emirates, and Uzbekistan—to do so.
Turkish president Recep Tayyip Erdogan and Ukrainian president Volodymyr Zelenskyy spoke by phone about bilateral relations, regional stability, and global challenges.
Ukraine on Friday withheld its confirmation of participation in the next round of peace talks with Russia, scheduled for June 2 in Istanbul, stating it first requires a detailed proposal from Moscow outlining its conditions for a potential truce or peace deal.
Ukraine is holding off on confirming its participation in peace talks with Russia until it receives a formal proposal document outlining Moscow’s positions, Foreign Minister Andrii Sybiha said Friday.
Civilian casualties in Ukraine have jumped sharply this year, with deaths rising 59% in the first quarter of 2025 compared to the same period last year, the United Nations said Thursday.
At the Astana International Forum, senior officials from Kyrgyzstan and Afghanistan held talks to strengthen bilateral cooperation, with a focus on trade, economic collaboration, and regional stability.
In a landmark moment for artists’ rights, Taylor Swift has officially bought back the master recordings of her first six albums, ending a long-running dispute over who controls her music.
The Centers for Disease Control and Prevention (CDC) confirmed Friday that COVID-19 vaccines are still recommended for healthy children aged 6 months and older—if their doctors agree.
A 61-year-old man in Alaska rescued after being trapped facedown under a massive 700-pound boulder in a freezing glacier-fed creek for three hours.
Two foreign nationals were indicted Friday in California and Wisconsin for allegedly trying to smuggle sensitive U.S. military technology to China and target an American dissident critical of Beijing.
AnewZ takes to the streets of Yerevan and Baku to ask a simple yet deeply complex question: How do you see peace between Armenia and Azerbaijan? In the first part of our special report, we hear the hopes, doubts, and scars still shaping people’s perspectives on both sides.
On May 28, the inauguration ceremony of Lachin International Airport was held.
A car drove into crowds of Liverpool fans celebrating the club’s Premier League title in the city centre on Monday evening, injuring dozens including 4 children. A 53-year-old man believed to be the driver was arrested at the scene.
EU ministers have greenlit a massive €150 billion defense investment fund—dubbed the Security Action for Europe (SAFE)—as the bloc ramps up its military readiness in response to Russia’s aggression and growing uncertainty over U.S. security guarantees.
An international academic conference titled "Islamophobia: Exposing Prejudice and Destroying Stigma" has officially opened in the capital of Azerbaijan, bringing together global scholars, experts, and policymakers to address the rise and consequences of anti-Muslim discrimination.
In a landmark moment for artists’ rights, Taylor Swift has officially bought back the master recordings of her first six albums, ending a long-running dispute over who controls her music.
A 61-year-old man in Alaska rescued after being trapped facedown under a massive 700-pound boulder in a freezing glacier-fed creek for three hours.
Two foreign nationals were indicted Friday in California and Wisconsin for allegedly trying to smuggle sensitive U.S. military technology to China and target an American dissident critical of Beijing.
The Federal Aviation Administration has ordered an accident investigation into SpaceX’s latest Starship test flight, which ended with the spacecraft spinning out of control and breaking apart over the Indian Ocean.
Czech Justice Minister Pavel Blažek resigned Friday after opposition parties called for his removal over a controversy involving bitcoins donated to the Ministry of Justice.
At the Astana International Forum, senior officials from Kyrgyzstan and Afghanistan held talks to strengthen bilateral cooperation, with a focus on trade, economic collaboration, and regional stability.
In a landmark moment for artists’ rights, Taylor Swift has officially bought back the master recordings of her first six albums, ending a long-running dispute over who controls her music.
The Centers for Disease Control and Prevention (CDC) confirmed Friday that COVID-19 vaccines are still recommended for healthy children aged 6 months and older—if their doctors agree.
A 61-year-old man in Alaska rescued after being trapped facedown under a massive 700-pound boulder in a freezing glacier-fed creek for three hours.
Two foreign nationals were indicted Friday in California and Wisconsin for allegedly trying to smuggle sensitive U.S. military technology to China and target an American dissident critical of Beijing.
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