Canadians are eyeing moves to these cities for more affordable housing
Faced with elevated housing prices, half of Canadians in the country's largest cities are considering moving to places with more affordable housing.
European Union nations have decided to approve an outline deal that would keep in reserve the profits from hundreds of billions of dollars in Russian central bank assets that have been frozen in retaliation for Moscow's war in Ukraine, an EU official said.
The tentative agreement, reached late Monday, still needs formal approval but is seen as a first step toward using some of the 200 billion euros ($216 billion) in Russian central bank assets in the EU to help Ukraine rebuild from Russian destruction.
The official, who asked not to be identified since the agreement was not yet legally ratified, said the bloc "would allow to start collecting the extraordinary revenues generated from the frozen assets ... to support the reconstruction of Ukraine."
How the proceeds will be used will be decided later, as the issue remains mired in legal and practical considerations.
There is urgency since Ukraine is struggling to make ends meet, and aid plans in the EU and the United States are being held back over political considerations including whether allies will continue helping Ukraine at the same pace as they did in the first two years of the war.
EU leaders will meet on Thursday hoping to approve a 50-billion-euro ($54 billion) support package for Ukraine over the solitary opposition of Hungarian Prime Minister Viktor Orban.
Even if using the unfrozen assets, which now go untapped, seems like a practical step to take, many fear that financial weaponization could harm the standing of the EU in global financial markets.
Early this month, Ukrainian President Volodymyr Zelenskyy called for a "strong" decision this year for the frozen assets in Western banks to "be directed towards defence against the Russian war and for reconstruction" of Ukraine.
The EU step late Monday paves the way if EU nations ever want to impose such measures. Group of Seven allies of Ukraine are still looking for an adequate legal framework to pursue the plan.
The U.S. announced at the start of Russia's invasion that America and its allies had blocked access to more than $600 billion that Russia held outside its borders -- including roughly $300 billion in funds belonging to Russia's central bank. Since then, the U.S. and its allies have continued to impose rounds of targeted sanctions against companies and wealthy elites with ties to Russian President Vladimir Putin.
The World Bank's latest damage assessment of Ukraine, released in March 2023, estimates that costs for the nation's reconstruction and recovery will be $411 billion over the next 10 years, which includes needs for public and private funds.
Belgium, which holds the rotating presidency of the European Union for the next six months, is now leading the talks on whether to seize Russia's assets. Belgium is also the country where most frozen Russian assets under sanctions are being held.
The country is collecting taxes on the assets. Belgian Prime Minister Alexander De Croo said in October that 1.7 billion euros ($1.8 billion) in tax collections were already available and that the money would be used to pay for military equipment, humanitarian aid and helping rebuild the war-torn country.
Faced with elevated housing prices, half of Canadians in the country's largest cities are considering moving to places with more affordable housing.
Liberal parliamentarians are criticizing Conservative Leader Pierre Poilievre over a new video in which he promotes the idea that some Canadians are 'fleeing' Canada to live in Nicaragua because they can't afford a house in this country.
Car manufacturer Nissan has issued a do-not-drive warning for some older vehicles equipped with Takata airbag inflators, due to the risk of explosion during a crash.
A group of prominent former politicians and current academics is asking Prime Minister Justin Trudeau to change his tone on the possibility of arrest warrants for senior Israeli leaders.
An infant has died and three others, including another child, were taken to hospital following an ATV crash in Forties, N.S., on Monday.
Canada's announcement of an $11.2-billion contract to improve training platforms for the military is getting a lukewarm reception at the country's largest defence trade show, as allies and military industry companies want to see more investment from the federal government.
Canadian figure-skating icon Tessa Virtue is expecting her first child, she revealed via social media Tuesday.
Conservative Leader Pierre Poilievre's housing bill has been defeated in the House of Commons with the Liberals, New Democrats and Bloc Quebecois voting against the legislation.
Police cleared pro-Palestinian protesters from a main intersection at the University of British Columbia campus in Vancouver on Wednesday.
The president of Covered Bridge Chips in New Brunswick is hoping to have his factory rebuilt for late 2025 following a devastating fire last year.
Students and staff at Winnipeg’s Westwood Collegiate had a unique problem to solve this month; how do you lead ducks to water from the school’s courtyard when 12 of them can’t fly yet?
Debby Lorinczy remembers her father as an amazing person and as a man who also made an amazing discovery.
Abigail Strate is a member of the Canadian national ski jumping team and an Olympic bronze medallist. She's also a certified beekeeper.
It's been a long time coming, but one Oilers superfan is hoping this will be the year he gets to touch up his massive Stanley Cup back tattoo.
A man's daring rescue of a newborn wild foal that was trapped after falling down a steep embankment was caught on video over the weekend.
A Winnipeg pinball wizard is heading to the granddaddy of them all – the IFPA World Pinball Championship.
It’s the chance of a lifetime for a group of Ottawa athletes who are getting ready to represent Team Canada at the World Junior Ultimate championships in the United Kingdom.
Parishioners at Holy Trinity Anglican Church are praying for a monetary miracle, as their historic place of worship could collapse at any moment.