Trudeau Vows $5 Billion in Aid to Ukraine, Using Frozen Russian Assets as Funding
Prime Minister Justin Trudeau has announced an additional $5 billion in aid to Ukraine, which will be covered by revenues from frozen Russian assets.
Trudeau made this declaration on Feb. 24 during a global leaders summit in Kyiv to mark the third anniversary of Russia’s invasion of Ukraine.
Since the invasion on Feb. 24, 2022, Canada has frozen over $140 million in Russian assets, as per the RCMP’s latest figures updated in December 2024.
Up to now, the Trudeau government has dedicated $4.5 billion in military support to Ukraine. This includes main battle tanks, combat vehicles, weapons, small arms, and ammunition.
Overall, Canada has pledged more than $19.5 billion in assistance to Ukraine since February 2022.
Additionally, at the Kyiv summit, Trudeau promised to supply Ukraine with more military equipment, such as Light Armoured Vehicles, combat vehicles, and F-16 flight simulators, building on previous deliveries of equipment and supplies.
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Trudeau told reporters at the Kyiv summit that all options are being considered regarding sending troops to Ukraine.
“We understand the need for increased efforts in an uncertain world. Canada will stand by. We will collaborate with our partners,” he mentioned during a joint press conference with European leaders on Feb. 24.
U.S. President Donald Trump has called for a ceasefire to swiftly conclude the Russia-Ukraine conflict. Recent communication between him and other leaders indicated a readiness to negotiate a resolution. Plans for a meeting between Trump and Putin are in progress, confirmed by a senior Moscow official.
Trudeau emphasized the strong bond between Canadians and Ukrainians due to the substantial Ukrainian community in Canada. He stressed the importance of not ignoring the conflict. Canadians are aware of the significance, he added.
A Feb. 6 survey by Angus Reid Institute revealed diminishing Canadian support for further Ukraine aid, with a higher percentage believing Canada is already doing too much to assist Ukraine.
During the Kyiv summit, Trudeau restated Canada’s commitment to meeting NATO’s defense spending target of 2 percent of GDP. Following earlier criticism, he pledged at a NATO summit in Washington, D.C., to reach this by 2032 but may now achieve it sooner according to Defence Minister Bill Blair.
As of 2024, Canada is among the eight NATO members yet to meet the 2 percent defense spending target, whereas countries like Estonia are surpassing it significantly.
