We are part of a larger world, and what happens to others impacts our own lives, even if we wish it weren’t so. This is especially true when faced with tipping-point moments like the Russia-Ukraine war.
On December 27th, 2025, the Canadian government announced an additional $2.5 billlion in support for Ukraine. The full announcement can be read below:
“Today, Prime Minister Carney welcomed President Zelenskyy to Halifax, marking the President’s second visit to Canada this year. Ukraine is at the frontline of the struggle between democracy and authoritarianism. Their meeting comes at a crucial point in this horrific war – a time when the combined efforts and might of the United States, Ukraine, European allies, and Canada are creating the conditions for a just and lasting peace.
Since Russia’s unprovoked, unjustified, full-scale invasion, Canada has provided nearly $22 billion in multifaceted assistance for Ukraine, including over $12 billion in direct financial support – making Canada among the largest contributors to Ukraine’s recovery and reconstruction. As the Ukrainian people endure another winter of Russian aggression, Canada remains steadfast in its support for Ukraine.
Building on Canada’s strong support for Ukraine, the Prime Minister today announced new measures to support a just and lasting peace. Canada is announcing an additional $2.5 billion commitment for Ukraine, including:
Financing that will enable the International Monetary Fund to lend Ukraine an additional $8.4 billion as part of an extended financing program;
Canada’s participation in extended and expanded debt service suspension for Ukraine, for up to $1.5 billion in 2025-26;
A loan guarantee of up to $1.3 billion in 2026 to the World Bank’s International Bank for Reconstruction and Development to support Ukraine’s reconstruction; and
A loan guarantee of up to $322 million in 2026 to the European Bank for Reconstruction and Development to support Ukraine’s gas imports and reinforce its energy security.
In Halifax, Prime Minister Carney and President Zelenskyy held a bilateral meeting to discuss the latest developments in ongoing peace talks. The Prime Minister affirmed Canada’s full support for Ukraine.
The Prime Minister and the President also participated in a call with European leaders to advance joint efforts for Ukraine’s security and recovery. Through the Coalition of the Willing and other partnerships, Canada is working to secure a just and lasting peace that reunites children with their families, fortifies Ukraine’s forces, builds prosperity for the Ukrainian people, and deters Russia from ever again threatening the peace and security of Ukraine or Europe.”
On Twitter, former Alberta Premier & Harper government Cabinet Minister Jason Kenney expressed support for Canada’s new aid for Ukraine and Prime Minister Carney’s leadership on the issue:
In response to a post that inaccurately stated the cost of Canada’s support for Ukraine, Kenney shared a detailed breakdown of the true cost, which I encourage you to read below:
“1) There are 15.3 million households in Canada. 25B / 15.3M = 1,600, not 16,000. Off by a factor or ten.
2) That’s over four years, so $400 / year
3) Of the ~$25 B committed to Ukraine nearly half (~$12B) is through loans.
4) Of the balance, $6.5 B has been for military support. Most of that is the notional accounting value of end of life equipment and munitions that we already owned, and would be disposed of if not transferred, not net new cost to taxpayers. Another large portion has been to support the Operation Unifier training mission that I launched as Defence Minister in 2015. Very little of those costs are incremental (ie we would still be paying for the trainers’ salaries and sustainment as part of CAF OpEx without Op Unifier), and our soldiers say that they are learning as much about modern warfare from the Ukrainians as they’re learning from us.
5) So grosso modo, we’re talking about $6.5B in reconstruction and other support that is direct incremental spending, rather than loans, equipment transfers, or imbedded CAF OpEx. That $6.5B / 15.3M households = $424, or ~$100 / year.
6) Allowing Putin’s aggression to succeed in Ukraine would be an open invitation for him to move to the next phase of his explicit plan to rebuild the Russian / Soviet Empire by invading the Baltic states. That would engage Canada through NATO Article 5, and that would be a helluva lot more expensive, both in lives and money, than helping the Ukrainians to defend themselves.
And that’s not even to mention how Xi would read Western failure to support Ukraine as he develops his plans to invade / blockade Taiwan, with the enormous subsequent rupture to global stability and trade.
I think Jason Kenney deserves real credit for his commitment to Ukraine and to the truth. At a time when a significant portion of influential figures on the right have chosen the easier path of either turning against aiding Ukraine or simply staying silent to avoid getting an online backlash, Kenney has chosen the opposite path. It’s not an easy choice to make, but it’s the kind of choice that will hold up in the long sweep of history. We can learn a lot about ourselves and others at times when our sense of ethics is tested, and when the path of power and profit diverges from what we know to be right. By adhering to the truth and fighting for the truth in the face of significant online opposition, Kenney is setting a strong example for people across the political spectrum, particularly those on the right who are wavering between what they know is right and what feels safe and easy.
I would also like to credit Dimitris Soudas – former Director of Communications for Prime Minister Stephen Harper – who has also been making the case for supporting Ukraine, and helping to address instances of misinformation, as he did when responding to someone who said loan guarantees for Ukraine add to Canada’s national debt:
“No, that statement is not accurate.
A loan guarantee is not an actual debt at the time it is issued. It is a contingent liability, not a realized one.
If a government guarantees a loan, it is promising to step in only if the borrower defaults. As long as the borrower continues to service the loan, no cash leaves the guarantor’s treasury and no debt is issued by the guarantor.
A loan guarantee is a contingent liability. It does not add to national debt unless and until the borrower defaults and the guarantor is required to make payment.
This distinction is fundamental in public finance and is why governments use guarantees rather than direct loans when they want to support allies or industries while limiting immediate fiscal impact.
It does not appear in gross public debt figures
It is disclosed separately as a contingent liability in public accounts.”
History will look kindly upon those who chose to speak the truth at moments when lies were more profitable.
A mutually-beneficial relationship
I also think it’s important to consider that Canada’s support for Ukraine is not a one-way relationship, as it’s often presented by critics. Canada is not merely giving money and resources away and getting nothing in return; we are the beneficiaries of Ukraine’s bravery and technological advancements.
For the Canadians who are broadly supportive of Ukraine but also struggling financially, it is understandable that some feel a sense that money sent abroad should instead be spent on programs that immediately ease their financial burden. This is the sentiment that some critics of aiding Ukraine use, but instead of addressing it honestly and in a nuanced manner, it is twisted into a narrative that generates outrage. And often, the real benefits that come from aiding Ukraine are ignored in the service of a politically expedient but dishonest narrative.
So, let’s take a look at what those benefits are and why they matter.
Benefit 1: A lower probability of a world war
Were Russia to invade a NATO country, the world would be plunged into a large-scale conflict. Even if the United States sat out that conflict by abandoning NATO, Canada and our European allies would be drawn in. Looking only at the economic context for a moment, such a conflict would devastate the global economy and almost certainly lead to a global financial/economic crisis, as heavily-indebted governments would be forced to simultaneously raise taxes, slash non-defence spending, and ramp up defence spending. Global trade barriers, in that case, would make the current trade war look like nothing, with shortages and higher prices driving up the cost of living far beyond.
Since the most likely trigger for a global conflict is a Russian invasion of Estonia/Latvia/Lithuania/Poland, and since such an invasion depends in large part on whether Russia is stopped in Ukraine or not, aiding Ukraine now is our best chance to prevent that conflict and prevent the economic disaster that would ensue.
Benefit 2: Better trade ties with Europe
The more Canada can deepen its trade relationship with the European Union (the third-largest economic bloc when considered as a whole), the more we can reduce our dependence on the United States and benefit from expanded trade. More Canada-EU trade means more competition and more choice for consumers, and more potential markets for Canadian businesses, which means more jobs, more per-capita GDP growth, and more innovation, all of which have a direct benefit for Canadians.
However, if Europe were to be drawn into a large-scale war if Russia defeated Ukraine and used Ukraine as a launch pad for a further series of invasions, Europe’s economy would be devastated, which would, of course, hurt economies around the world – including Canada’s. And since stopping Russia in Ukraine is seen as an existential issue for many European citizens and leaders, supporting Ukraine is something European nations rightfully expect from potential trade partners. Canada’s ongoing support for Ukraine has helped bolster our reputation in the European Union, and Canada has been given access to EU rearmament programs. By supporting Ukraine, Canada earns the credibility to build economically beneficial partnerships with Europe that, in turn, benefit Canadians.
Benefit 3: Building credibility with the United States
While the Trump Administration remains oddly unwilling to criticize Russia directly, American public opinion remains supportive of Ukraine, as does the traditional national security establishment in the United States. At a time when Canada needs advocates and partners in the U.S. who value the relationship between the two countries and respect Canadian sovereignty, aiding Ukraine sends some important signals. First, it signals that Canada can make its own decisions. At a time when U.S. aid to Ukraine has largely dried up, Canada continues to provide new support to Kyiv. Second, it signals that Canada is backing up our words with actions. While Canadian governments have long been willing to moralize on the global stage, words have not always been followed by commitments, particularly when it comes to military matters. But now, Canada is raising defence spending significantly and continuing to match our rhetorical support for Ukraine with financial and military aid. That builds credibility among good-faith actors in the United States at a time when credibility is essential.
Benefit 4: Better protection for our men and women in uniform, which makes Canada safer
Under the pressure of an existential war, Ukraine has become a hotbed of military innovation, gaining the kind of experience that can only be gained amid brutal fighting. As a result, Ukraine is in many ways ahead of other Western militaries, and Canada and our allies have much to learn from Ukraine if we wish to ensure the best protection possible for our women and men in uniform. In August, Ukraine’s Ambassador to Canada – Andrii Plakhotniuk – told Canadian MPs that Ukraine is willing to share drone and other military technology with Canada:
“Andrii Plakhotniuk, Ukraine’s ambassador to Canada, was asked at the Commons defence committee Tuesday how Kyiv could help the Canadian government acquire new military technology including drones.
He told MPs co-operation on joint defence production is already under way. Ukraine is ready “to share our knowledge, our technological knowledge, with all our partners and reliable friends.””
In this way, Canada’s aid to Ukraine is returned to us in the form of our CAF Members being better trained and better protected than they otherwise would be. After all, Ukraine – understandably wouldn’t be willing to share its hard-earned military lessons and innovations had Canada not provided support for Ukraine’s survival against Putin’s invasion.
If we expect those who serve our country to risk their lives on behalf of our nation and alongside our allies, at the very least, we owe them the best equipment, the best training, and the best technology. To make that happen, helping Ukraine is a must. And the more well-protected our CAF Members are, the more Canada can contribute to strong NATO deterrence efforts, which again lowers the probability of another world war.
Direct benefits
Aiding Ukraine helps protect your wealth and finances by reducing the probability of an economically-devastating world war, strengthens our economic ties with Europe to create jobs and economic competition that can put more money in your pocket, builds credibility with good-faith allies in the United States which could raise the odds of getting a mutually-beneficial trade deal, and helps keep you and your loved ones safe by contributing to a more well-equipped and advanced Canadian Armed Forces. These are both direct benefits and insurance-like benefits, with a small cost protecting against a much larger loss. And all of this, for about $100 per household.
A deeper benefit
You can also consider a deeper benefit of supporting Ukraine: Building the kind of world that we want to live in. A world where dictators can redraw borders through force, get away with kidnapping tens of thousands of children, bomb civilians with impunity, and put imperial ambitions above basic human decency is a world that would leave us all in more danger, make us poorer, and generate a pervasive sense of fear and unease that would rob many of the free, open, and prosperous life they dream of. But a world in which Putin is stopped in Ukraine, democracies regain their confidence, and dictators are deterred from aggression, would be a world that is freer, more humane, and more abundant. $100 a household sure seems like a reasonable price to pay to bring that latter world into being.
Spencer Fernando
Image – YouTube
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