UK and Canada to Join EU Plan to Tap Russian Assets for Ukraine

The UK and Canada will join a European Union plan to tap a portion of the almost $300 billion in Russian central-bank assets held by Group of Seven nations, in an effort to ramp up their financial support to Ukraine.

European allies are nearing an agreement to provide loans through a mechanism that would avoid them having to seize the assets outright, according to western officials, who described it as an important step in ensuring Ukraine’s financial security.