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CUSMA Review 2026: What Happens on July 1 — and What It Means for Your Wallet

The trade deal that governs nearly $1.3 trillion in Canada-U.S. commerce is up for review in less than a week. Here's what's at stake for Canadian families — and how to protect your budget whatever happens next. By MoneySavings.ca Staff  |   June 25, 2026 Canada Day is almost here — and this year, July 1 carries a lot more weight than fireworks and barbecues. On that same date, Canada, the United States, and Mexico are required to sit down for the first mandatory review of the Canada–United States–Mexico Agreement , known in Canada as CUSMA (and in the U.S. as the USMCA). The outcome of these talks will help shape the price of your groceries, your next car payment, Canadian jobs, and the overall cost of living for years to come. If you've heard the buzz but aren't sure what it all means for your household budget, you're in the right place. Here's your plain-language breakdown. What Is CUSMA — and Why Should You Care? CUSMA replaced the old NAFTA deal in 2020 an...
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EU Locks Russian Assets, Paving Way for Ukraine Loan

 

                Ukraine's president says it is right for Russia's frozen assets to be used to rebuild his country.


The European Union has reached a landmark decision to indefinitely freeze Russian central bank assets worth approximately €210 billion ($246 billion), a move that clears the path for a major financial lifeline to Ukraine.

Previously, the freeze had to be renewed every six months, leaving it vulnerable to political challenges from member states with closer ties to Moscow, such as Hungary and Slovakia. By shifting to an indefinite immobilization, the EU removes the risk of assets being returned to Russia due to internal dissent. This decision was made under Article 122 of the EU treaties, which allows for qualified majority voting rather than unanimity, ensuring the measure’s durability.

The bulk of the frozen funds—about €185 billion—are held in Belgian clearinghouse Euroclear, and EU leaders intend to leverage these assets to secure a loan package for Ukraine. Kyiv urgently needs financial support, with estimates suggesting it requires €135.7 billion over the next two years to sustain its economy and military efforts against Russia’s ongoing invasion.

European Commission President Ursula von der Leyen hailed the move as a decisive step to ensure Ukraine remains financed and capable of resisting Moscow’s aggression. Russia, however, has condemned the measure as theft, with its central bank already pursuing legal action against Euroclear in Moscow courts.

This decision marks a significant escalation in the EU’s economic strategy against Russia, signaling that frozen sovereign assets will remain inaccessible until the war ends and reparations are addressed. For Ukraine, it represents a crucial breakthrough in securing long-term financial stability.

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