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.
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Dmitry Medvedev has warned that Ukrainian President Volodymyr Zelenskyy could face the same fate as Venezuelan leader Nicolás Maduro, following what he described as a U.S. ‘abduction’ of the Venezuelan president.
European national security advisers gathered in Kyiv on Saturday to discuss Russia- Ukraine war and steps toward peace.
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Ukrainian officials reported on Friday that thousands of children and their parents were evacuated from frontline areas in the Zaporizhzhia and Dnipropetrovsk regions as Russian forces continued to advance.
Turkish President Recep Tayyip Erdoğan has warned that the Russia-Ukraine war is now threatening trade in the Black Sea.
Teenagers as young as 14 and 15 years old were among those who died in the bar fire on New Year's Eve that killed 40 people in Switzerland, police said on Sunday.
North Korea fired a ballistic missile into the East Sea, according to South Korea and Japan, as regional diplomacy and security concerns remain in focus.
The United States launched an overnight military operation in Venezuela and captured its long-serving President Nicolás Maduro on Saturday, U.S. President Donald Trump said, pledging to place the country under temporary American control and signalling that U.S. forces could be deployed if necessary.
The UN Security Council will hold an emergency meeting Monday to discuss the U.S. operation in Venezuela.
Dmitry Medvedev has warned that Ukrainian President Volodymyr Zelenskyy could face the same fate as Venezuelan leader Nicolás Maduro, following what he described as a U.S. ‘abduction’ of the Venezuelan president.
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Taiwan has reported an unprecedented surge in cyberattacks originating from China, with an average of 2.63 million incidents a day recorded throughout 2025, according to a new government report.
World leaders and organisations have responded strongly to the United States’ military operation in Venezuela that resulted in the capture and departure of President Nicolás Maduro. Many condemn the action as a breach of international law and calling for restraint and peaceful resolution.
U.S. President Donald Trump said on Sunday (4 January) that the United States could carry out further military action in Venezuela following the capture of President Nicolás Maduro. Speaking to reporters aboard Air Force One, he said Washington now effectively controls the country.
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