'He's in our hearts': Family and friends still seek answers one year after Nathan Wise’s disappearance
It’s been a year since Nathan Wise went missing and his family is no closer to finding out what happened to him.
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.
It’s been a year since Nathan Wise went missing and his family is no closer to finding out what happened to him.
Dozens of Ontarians are expressing frustration in the province’s health-care system after their family doctors either dropped them as patients or threatened to after they sought urgent care elsewhere.
An Ottawa pizzeria is being recognized as one of the top 20 deep-dish pizzas in the world.
Amazon's paid subscription service provides free delivery for online shopping across Canada except for remote locations, the company said in an email. While customers in Iqaluit qualify for the offer, all other communities in Nunavut are excluded.
The fire burning near Fort McMurray grew from 25 hectares to 5,500 hectares over the weekend.
Russia’s President Vladimir Putin began a Cabinet shakeup on Sunday, proposing the replacement of Sergei Shoigu as defence minister as he begins his fifth term in office.
Police are searching for a suspect in a homicide investigation after a man was slashed in downtown Toronto on Sunday.
There were some scary moments for several people on a northern Ontario highway caught on video Thursday after a chain reaction following a truck fire.
Health Canada announced various product recalls this week, including electric adapters, armchairs, cannabis edibles and vehicle components.
English, history, entertainment, math and geography: high school trivia teams could be quizzed on any of it when they compete at the Reach for the Top Nationals in Ottawa in June.
An Ottawa pizzeria is being recognized as one of the top 20 deep-dish pizzas in the world.
A family of fifth generation farmers from Ituna, Sask. are trying to find answers after discovering several strange objects lying on their land.
A Listowel, Ont. man, drafted by the Hamilton Tigercats last week, is also getting looks from the NFL, despite only playing 27 games of football in his life.
The threat of zebra mussels has prompted the federal government to temporarily ban watercraft from a Manitoba lake popular with tourists.
A small Ajax dessert shop that recently received a glowing review from celebrity food critic Keith Lee is being forced to move after a zoning complaint was made following the social media influencer’s visit last month.
The Canada Science and Technology Museum is inviting visitors to explore their poop. A new exhibition opens at the Ottawa museum on Friday called, 'Oh Crap! Rethinking human waste.'
The Regina Police Service says it is the first in Saskatchewan and possibly Canada to implement new technology in its detention facility that will offer real-time monitoring of detainees’ vital health metrics.
Just as she had feared, a restaurant owner from eastern Quebec who visited Montreal had her SUV stolen, but says it was all thanks to the kindness of strangers on the internet — not the police — that she got it back.