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In peaceful Banff Rockies, Canada vows to help rebuild war-battered Ukraine
In peaceful Banff Rockies, Canada vows to help rebuild war-battered Ukraine

National Post

time21-05-2025

  • Business
  • National Post

In peaceful Banff Rockies, Canada vows to help rebuild war-battered Ukraine

Article content Facing reporters on a grassy terrace overlooking Mt. Rundle, the two ministers were pelted by recurring, chilly bouts of rain and sleet. Article content 'Welcome to summer in Canada,' Champagne said to Marchenko. Article content Article content In Ukraine, fighting continues along a 1,000-kilometre front which has budged little in recent weeks, though Russian forces remain on the attack. Article content Maintaining a small foothold in Russian territory in the Kursk region are Ukrainian forces, who also continue to defend against relentless air assaults on their cities. Article content Canada has provided about $20 billion in military, humanitarian and financial assistance to Ukraine since the February 2022 full-scale Russian invasion, while mostly Western countries have furnished about $380 billion in aid as of March 2025. Article content But on Tuesday, Champagne said it was too early to say if Canada would increase assistance to Ukraine before his government tables a budget in the fall. Article content Fears of escalation with a nuclear-armed Russia have constrained Ukraine's allies from providing some heavy and sophisticated armaments, while some of those countries, particularly the U.S., have placed limits on how longer-range weaponry can be used. Article content Around 300,000 Ukrainians who have fled the fighting have arrived in Canada during that time, with more than 962,000 in total being approved for emergency settlement. Article content This week, the European Union and the U.K. announced they're expanding sanctions on Russia, targeting individuals, Moscow's so-called shadow fleet of oil tankers enabling them to end-run sanctions, as well as on third countries supplying the Kremlin with war material. Article content Those new measures follow numerous rounds of sanctions imposed on Russia since February 2022 that have impacted the country's economy but not halted its military offensive. Article content U.S. President Donald Trump has said he will not impose new sanctions on Russia, calling them counterproductive. Article content Earlier this month, European countries that have already significantly lessened their dependence on Russian natural gas said they will completely ban those imports within two years. Article content Article content Article content G7 summiters are to discuss further sanctions on Russia, imposing a lower price cap on Russian oil to pressure Moscow's economy and action against its shadow fleet. Article content On Tuesday, Marchenko said progress at the G7 towards tougher sanctions on Russia, along with a lower oil price cap, would be welcome. Article content And he was asked if ministers at the G7 should pressure U.S. Treasury Secretary Scott Bessent to reimpose sanctions on Russia. Article content 'During these meetings, we'll find a chance to reiterate our position for stronger sanctions on Russia because it's the only possible way to make necessary agreements (with Russia),' he said. Article content 'It's a good time to make the Russian economy suffer.' Article content

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