Leaders of the Group of Seven wealthy democracies have agreed to engineer a $50 billion loan to help Ukraine in its fight for survival. Interest earned on profits from Russia's frozen central bank assets would be used as collateral.
A U.S. official who spoke on the condition of anonymity to preview the agreement said the G7 leaders' official statement due out Friday will leave the door open to trying to confiscate the Russian assets entirely.For more than a year, officials from multiple countries have debated the legality of confiscating the money and sending it to Ukraine.
Ukraine will be able to spend the money in several areas, including for military, economic and humanitarian needs and reconstruction, the U.S. official said. Max Bergmann, director of the Europe, Russia and Eurasia Program at the Center for Strategic and International Studies, said last week that there were worries among European finance ministers that their countries "will be left holding the bag if Ukraine defaults."Chinese Embassy spokesman Liu Pengyu told The Associated Press that the U.S. is "fueling the fight and inciting confrontation.
Catherine, Princess of Wales, has said she is making 'good progress' in her recovery from cancer and will make her first public appearance in months at the King’s official birthday celebration on Saturday.A cup of coffee is keeping a small business in Toronto alive – but it could also be a death sentence.Ontario residents facing tornado alerts this week reported seeing skies in unusual colours as they anticipated the potentially destructive funnel clouds.
Canada has moved up one spot to No. 8 in the latest FIFA women's world rankings. Spain remains No. 1 while France moves into a career-high second place at the expense of England. Germany climbs one rung to No. 4, dropping the U.S. to No. 5.At Clearmeadow Public School, McDavid's former teachers fondly remember him as a standout student, even at a young age.
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