Zelenskyy discusses defence, financial support with Justin Trudeau as G7 Summit kicks off

As  crucial G7 Summit kicked off on June 26, Ukrainian President Volodymyr Zelenskyy spoke to Canada's Prime Minister Justin Trudeau and "coordinated positions" over key events. With an eye on key convention being held in Bavaria, Germany, leaders discussed financial assistance deemed necessary by Ukraine in order to deter Russia's aggravated assault in eastern part of country. Zelenskyy thanked Canadian PM for comprehensive support offered to Kyiv for counteracting Russia's onslaught.

During call, Zelenskyy outlined potential military and financial assistance required as war intensified in eastern pockets of Europe. In response, Trudeau reaffirmed his unwavering commitment towards Ukraine. He highlighted significance to uphold Kyiv's territorial integrity and democracy. "You can count on Canada's support...we will continue to be re," Trudeau said, as mentioned in his Twitter post.

According to Royal Canadian Mounted Police  (RCMP), Ottawa has blocked over $310 million in Russian assets since war began on February 24. In a statement, RCMP said it has effectively stalled at least $123 million until June 7. In addition, Canadian Foreign Ministry froze transactions worth $289 million. This comes after Ottawa, in April, said it would reform its sanctions law to allow using seized funds as reparations for war victims and to help rebuild Ukraine, CBS News reported.

On June 8, Canadian Foreign Affairs Minister Melanie Joly anunced fresh sanctions under country's Special Ecomic Measures (Russia) Regulations in response to Russian President Vladimir Putin's ongoing "egregious and unjustified" invasion of Ukraine. In new pack of penalties, Ottawa imposed a ban on export of 28 services vital for operation of oil, gas, and chemical industries, including technical manment,  accounting, and advertising services. ban on exploitation of oil gas and chemical services targets industry and accounts for 50% of Russia's Federal budget revenues, Joly said, as quoted in press release. " Russian invasion of Ukraine has w lasted over 100 days. During this time, Putin and his regime have caused untold pain and suffering in Ukraine and across world. We will continue to relentlessly pursue accountability for Putin's senseless war," she added.

G7 leaders mull price cap on Russian oil to limit Russia's war chest

At G7 summit, seven heads of world's wealthiest democracies are mulling over imposing a price cap on Russian oil imports by or nations to cut down Moscow's alleged war funding. idea was floated by US Treasury Secretary Janet Yellen during her trip to Toronto last week.

"Putting a ceiling on price of fossil fuels imported from Russia has a geopolitical goal as well as an ecomic and social one," Italian Prime Minister Mario Draghi said at G7 Summit, as quoted by Guardian. idea is deemed viable with Russia having immediate alternative to level revenue generated from European countries, altoger having option but to agree to a 'price cap,' experts indicated. European Council chief Charles Michel also expressed support for proposed 'price cap' idea, however, stressing that leaders must have a "clear vision" to ensure maximum effect without a spill-off in Europe.

(Im: AP)