💰 Canada raising money for Ukraine with sale of bonds

TL;DR

WINNIPEG, Oct 28 (Reuters) - Canada will sell a government-backed, 5-year bond to raise money for Ukraine, the first country to do so, and it will impose new sanctions on 35 Russian individuals, including Gazprom (GAZP.MM) executives, Prime Minister Justin Trudeau said on Friday."Canadians will now be able to go to major banks to purchase their sovereignty bonds which will mature after five years with interest," Trudeau told an annual meeting of the Ukrainian Canadian Congress in Winnipeg.Canada has one of the world's biggest Ukrainian diasporas outside of countries that border Ukraine, and the community has lobbied Ottawa to impose increasingly strict sanctions against Russia since it invaded Ukraine in February.Deputy Prime Minister Chrystia Freeland declined to say if Canada would cap the total value of the bonds it was backing.The proceeds will "help the (Ukrainian) government continue operations, including providing essential services to Ukrainians, like pensions, and purchasing fuel before winter," a statement said."

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