Prime Minister Justin Trudeau meets with President Volodymyr Zelensky to express solidarity with Ukraine on the three-year mark since Russia’s full-scale invasion. Photo courtesy Office of the Prime Minister/X.

As Canadian Prime Minister Justin Trudeau prepares to exit the political stage from which he was recently ostracized, he has announced one more parting gift for Ukraine.

The Trudeau government has been one of the staunchest supporters of Ukraine in its war against Russia. Canada ranks fifth among countries in support for Ukraine when all military, financial and humanitarian contributions are factored in.

In Kyiv on February 24, Trudeau offered a final commitment before being replaced as leader of the Liberal Party and as PM. He announced that Canada will send $5 billion to Ukraine from revenues generated by frozen Russian assets.

Though continued financial support for Ukraine is typically viewed as uncontroversial, it is fraught with risk for several reasons.

When Russia invaded Ukraine, the West froze around $300 billion of Russian foreign reserves. Most of Russia’s foreign assets were in euros and US dollars. But around $19 billion were

© Canadian Dimension