Daily Brief: Canada Day, Russia Strikes Kyiv, Britain Rearms and Venezuela’s Earthquake Toll Rises

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CANADA

Carney to attend NATO summit in Ankara before landmark Saudi visit

Prime Minister Mark Carney will travel to Ankara from July 6 to 8 for the 2026 NATO Summit before making a bilateral visit to Saudi Arabia from July 8 to 10.

In Ankara, Carney is expected to focus on increased defense investment, NATO capabilities, new security partnerships and continued support for Ukraine. Canada says it has now reached NATO’s target of spending two per cent of GDP on defense and is on a path toward the alliance’s broader five per cent security and defense commitment by 2035. Canada has also become the first non-European participant in the European Union’s SAFE defense-financing initiative and, through Operation REASSURANCE, has deployed its largest sustained military presence in Europe in more than three decades.

The summit follows Carney’s June 29 conversation with NATO Secretary General Mark Rutte. The two discussed defense investment, strengthening NATO’s military capabilities and maintaining support for Ukraine. Carney highlighted Canada’s recent increase in defense spending, while both leaders agreed to continue coordinating ahead of their in-person meeting in Ankara.

After the summit, Carney will travel to Saudi Arabia for talks with Crown Prince Mohammed bin Salman. The visit will focus on trade and two-way investment across energy, critical minerals, defense, infrastructure, artificial intelligence, clean technology, agriculture, tourism and life sciences.

It will be the first visit to Saudi Arabia by a Canadian prime minister in 26 years, as well as Carney’s first in-person meeting with the Crown Prince. Saudi Arabia was Canada’s second-largest trading partner in the Gulf in 2025, with bilateral trade valued at approximately $3.5 billion.

Canada invests nearly $26 million in rebuilding the White Rock Pier

The Canadian government announced a federal investment of $25.9 million toward the second phase of the White Rock Pier reconstruction in British Columbia.

The pier, located in Semiahmoo Bay, was severely damaged during a 2018 winter storm, which destroyed a 100-meter section. The remaining structure is approaching the end of its service life and does not meet current seismic standards.

The project will replace the deteriorating timber structure with a more resilient design, improve accessibility, expand space for emergency vehicles and install utility conduits intended to help maintain essential services during emergencies.

The reconstruction will also involve cooperation with the Semiahmoo First Nation on cultural preservation, historical interpretation and fishing boat storage.

The funding comes through Canada’s $51 billion Build Communities Strong Fund, which supports infrastructure related to housing, transportation, health, education, sport and climate adaptation. The City of White Rock will contribute an additional $4.1 million.

Ottawa urges provinces to accelerate internal trade reforms

Federal Minister Dominic LeBlanc has called on provincial and territorial governments to move faster in removing barriers to internal trade and labor mobility.

Following a meeting of the Committee on Internal Trade, LeBlanc said governments must deliver on commitments made by Canada’s First Ministers in January.

The priorities include:

• extending mutual recognition to the services sector by the end of 2026;
• aligning approval processes for new building materials and prefabricated homes;
• harmonizing important construction health and safety training requirements by this fall;
• creating digital registries by spring 2027 to speed up credential verification for skilled trades workers.

LeBlanc also acknowledged that provinces and territories missed the original May deadline for implementing a framework for direct-to-consumer alcohol sales. The government now hopes to have the system operating this summer.

Negotiations are also continuing on changes to the Canadian Free Trade Agreement intended to make it easier for workers to move between provinces.

Canada invests $5.6 million in Black entrepreneurship programs in Alberta

The Canadian government is providing $5.6 million to three Alberta-based projects intended to help Black entrepreneurs establish, develop and expand their businesses.

The Africa Centre and its partners will receive $2.6 million for a province-wide program providing business advice, coaching, technology training and support with investment and market access.

The BIPOC Foundation will receive $1.5 million to expand its Founders Hub, while Black Canadian Women in Action will receive another $1.5 million to support Black women entrepreneurs.

The government estimates that the three projects will train 720 participants, assist 950 businesses and contribute to the creation or preservation of 280 jobs.

Canada and Uruguay strengthen customs cooperation

Canada and Uruguay have signed a Customs Mutual Assistance Agreement that will allow their customs authorities to exchange information and cooperate more closely against smuggling, customs violations and trade-related crime.

The agreement is intended to protect legitimate trade while improving efforts to detect the movement of drugs, firearms and other illegal goods.

Canada and Uruguay currently have a bilateral trade relationship worth approximately $317 million. The agreement also comes as Canada works to modernize its investment agreement with Uruguay and continues negotiations toward a free-trade agreement with the MERCOSUR bloc.

RBC pays $4.25 million penalty over mishandled credit card balances

The Financial Consumer Agency of Canada has imposed a $4.25 million administrative penalty on the Royal Bank of Canada for violating consumer-protection provisions of the Bank Act.

RBC failed to transfer credits from deactivated credit card accounts to customers’ replacement accounts. This resulted in inaccurate statements and, in some cases, additional charges.

Nearly 228,000 accounts were financially affected. RBC transferred or refunded more than $22.4 million. Where affected customers could not be identified, the bank made a $299,000 charitable donation.

UKRAINE

Kyiv comes under missile and drone attack

Russia launched ballistic missiles and drones toward Kyiv on Wednesday night, prompting residents to take shelter in metro stations.

Kyiv Mayor Vitali Klitschko said at least five healthcare workers were wounded in the Shevchenkivskyi district, including one who was reported to be in critical condition.

Officials said the strikes damaged a medical facility, destroyed a residential building and started several fires.

President Volodymyr Zelenskyy cut short his visit to Dublin after receiving intelligence indicating that Russia was preparing a large scale attack. He urged Ukrainians to follow air raid warnings and seek shelter.

The attack followed several days of strikes across Ukraine. The UN said that more than 40 civilians were killed and over 460 injured between June 26 and Wednesday morning, with the Dnipro, Zaporizhzhia and Kharkiv regions among those hardest hit.

Ukraine presses for five additional EU negotiation clusters

During a visit marking the beginning of Ireland’s six-month presidency of the Council of the European Union, Zelenskyy called for the remaining five clusters in Ukraine’s EU accession negotiations to be opened as quickly as possible.

Zelenskyy met Taoiseach Micheál Martin and European Council President António Costa in Dublin. The leaders discussed Ukraine’s membership process, continued European support and further sanctions against Russia.

Ukraine’s first negotiation cluster was opened during the preceding Cypriot presidency. Kyiv now wants Ukraine and Moldova to advance in parallel through the remaining clusters.

Zelenskyy argued that even procedural progress matters because it demonstrates that the EU is keeping its commitments and helps preserve public motivation inside Ukraine.

Zelenskyy calls for expanded sanctions and a European Drone Deal

Zelenskyy also urged European governments to tighten sanctions against Russia’s shadow fleet and against European-registered or European-based companies that continue providing Russia with essential materials.

He said military strikes on Russian oil and defense facilities, alongside sanctions, must create conditions under which Moscow can no longer sustain the war.

Ukraine is meanwhile seeking progress on a proposed Drone Deal with the European Union. The initiative would expand European access to Ukrainian drone and counter-drone technology developed and tested during the war.

Zelenskyy argued that Ukraine’s experience is now central to Europe’s ability to defend its airspace and maritime borders.

The European Commission began releasing €3.9 billion this week as the first payment from a roughly €6 billion tranche dedicated to drone procurement. The funding is part of the EU’s €90 billion Ukraine Support Loan for 2026 and 2027. Further defense disbursements are expected to cover ammunition, missiles and air defense systems.

Ukraine and UK discuss further support and possible negotiations

Zelenskyy met Jonathan Powell, the UK prime minister’s national security adviser, to discuss battlefield conditions, additional contributions to the NATO-led PURL procurement initiative and ways to revive diplomatic efforts.

The United Kingdom recently announced a support package for Ukraine worth nearly £290 million.

The discussion also covered preparations for next week’s NATO summit in Ankara and possible formats for future negotiations.

UNITED KINGDOM

Starmer announces nearly £300 billion in defense spending over four years

UK Prime Minister Keir Starmer has unveiled a Defense Investment Plan that would bring British defense spending to almost £300 billion over the next four years.

The government says annual defense spending will rise from £54 billion before Labor entered office to almost £80 billion by 2029. That would increase core defense expenditure from 2.3 per cent of GDP in 2024 to 2.7 per cent, with a stated objective of reaching 3 per cent during the next Parliament.

The plan includes:

• more than £5 billion for drones and autonomous weapons;
• £115 million to strengthen defenses against AI-related threats;
• £500 million for new technology and equipment for commandos and special forces;
• £8.6 billion for the Tempest fighter program with Italy and Japan;
• £64 billion for the renewal of Britain’s nuclear deterrent;
• the purchase of 12 F-35A aircraft;
• a new £50 billion defense-export facility.

Starmer said some planned capital projects involving roads, energy and other government departments will be delayed or cancelled to help fund the increase. He rejected additional borrowing, arguing that higher debt could raise interest rates and weaken Britain’s wider economic security.

The prime minister framed the plan as a response to Russian activity, foreign interference, attacks on critical infrastructure and the rapid technological transformation of warfare demonstrated in Ukraine.

Starmer also confirmed that the UK would maintain its support for Ukraine and argued that Europe must assume greater responsibility for its defense while preserving the transatlantic relationship with the United States.

EUROPEAN UNION

EU approves €402 million in assistance for Spanish transport companies

The European Commission has approved a €402 million Spanish aid scheme for road-transport companies affected by higher fuel prices resulting from the Middle East crisis.

The program will provide direct grants covering as much as 70 per cent of eligible additional fuel costs.

It was approved under the Middle East Crisis Temporary State Aid Framework, introduced in April to allow governments to support exposed agricultural, fishing, transport and energy-intensive industries.

The temporary framework will remain in effect until December 31, although the Commission says it may adjust its scope depending on developments in the Middle East and the wider economy.

UNITED NATIONS

Five humanitarian workers killed in South Sudan

Five humanitarian workers were killed and four others injured when a convoy operated by the John Dau Foundation was attacked in South Sudan’s Jonglei State.

The convoy was transporting staff returning from an Action Against Hunger training exercise.

The deaths bring the number of humanitarian workers and contractors killed in South Sudan this year to 29.

The UN called for a prompt and impartial investigation. The attack occurred amid a wider deterioration in security: more than 760 civilians were killed in South Sudan between January and March, an 89 per cent increase from the previous quarter.

Ebola outbreak threatens jobs and livelihoods across Central Africa

The UN Development Program has warned that the Ebola outbreak in the Democratic Republic of the Congo and Uganda could place almost one million additional people at risk of poverty.

More than 1,400 confirmed cases of the Bundibugyo strain and 350 deaths have been reported. More than 90 per cent of infections are concentrated in DRC’s Ituri province, an important center of cross border trade.

UNDP estimates that as many as 300,000 jobs could be threatened and that the regional economic cost could reach $3.6 billion if the outbreak spreads and produces wider economic shocks.

Even if the outbreak is contained, DRC could lose more than $1 billion and 55,000 jobs.

UN renews call for worldwide abolition of the death penalty

UN human rights chief Volker Türk has reiterated the organization’s opposition to capital punishment in all circumstances.

Addressing the World Congress Against the Death Penalty in Paris, Türk said the punishment is applied disproportionately against poorer and marginalized people and is frequently used against political dissenters.

Almost 90 per cent of countries have ended executions either in law or practice. However, the UN expressed concern about countries that have recently expanded or reintroduced capital punishment, specifically identifying developments in Israel, Burkina Faso, Iran and China.

Venezuela earthquake death toll surpasses 2,200

Venezuelan authorities have declared seven days of national mourning following the June 24 earthquakes.

At least 2,295 people have died, more than 11,000 have been injured and approximately 6,400 people have been rescued.

Fourteen displacement camps have been established in La Guaira alone, while hospitals and emergency services remain under severe pressure.

The UN has released $15 million from its emergency fund. International search-and-rescue teams from 28 countries remain deployed, while UN agencies are providing food, shelter, sanitation, health services and psychosocial assistance.

The United States has contributed $100 million to the Venezuela Humanitarian Fund and another $100 million toward response operations.

UN warns El Obeid could face siege-like conditions

The United Nations has raised concern about a buildup of Rapid Support Forces fighters around El Obeid, the capital of Sudan’s North Kordofan State.

Recent drone strikes have damaged schools, fuel infrastructure and a site sheltering displaced people. Germany, Ireland, the Netherlands, Norway and the United Kingdom warned that thousands of civilians are being cut off from water, fuel and other essential services.

At their request, the UN Human Rights Council will hold an urgent debate on Sudan on Friday.

The conflict has displaced more than 14 million people inside Sudan and has severely weakened the country’s health system.

Only 60 per cent of Sudan’s health facilities remain even partially functional. The country is also facing cholera, malaria and dengue outbreaks.

EU and UN launch climate-displacement program in southern Africa

The European Union and the International Organization for Migration have launched a regional program to help southern African governments anticipate and prevent climate-related displacement.

The RE2CLID program will improve forecasting, risk data, disaster preparedness and the integration of displacement into development and climate adaptation planning.

Disasters caused approximately 2.9 million internal displacements in Sub-Saharan Africa during 2025.

ASIA

New report proposes using India’s carbon market to finance its energy transition

The Asia Society Policy Institute has proposed using revenue from India’s Carbon Credit Trading Scheme to finance industrial decarbonization and assist communities dependent on fossil fuel industries.

The report estimates that auctioning carbon allowances in India’s power sector alone could generate more than $500 billion by 2050.

It proposes two funds: one supporting power-sector and industrial decarbonization, and another financing worker retraining, economic diversification and community infrastructure in coal-dependent states.

The authors also recommend creating an independent Energy Transition Finance Authority under India’s Ministry of Finance to oversee the allocation of revenue.

GLOBAL HEALTH

Monthly cholera cases rise 43 per cent

The World Health Organization recorded 29,610 new cholera and acute watery diarrhea cases across 16 countries during May, a 43 per cent increase from April.

There were 271 associated deaths, an increase of 30 per cent from the previous month.

From January through May, WHO recorded almost 115,000 cases and 1,318 deaths across 23 countries.

Despite the monthly rise, cases and deaths in May remained substantially below levels recorded during the same period in 2025.

WHO warned that conflict, mass displacement, natural disasters, flooding, damaged infrastructure and limited access to healthcare continue to make outbreaks more difficult to contain.

GLOBAL ECONOMY

Global monetary policy shifts decisively toward tightening

The Council on Foreign Relations’ Global Monetary Policy Tracker indicates that monetary policy has entered a clear tightening phase for the first time since 2023.

The shift follows rate increases by the European Central Bank, from 2 to 2.25 per cent, and the Bank of Japan, from 0.75 to 1 per cent.

The US Federal Reserve, now led by Chair Kevin Warsh, held its policy rate at 3.63 per cent. However, with US inflation at 4.2 per cent, markets are pricing in an approximately 30 per cent chance of a rate increase at the Fed’s July 29 meeting.

CFR attributes much of the renewed inflationary pressure to higher energy costs stemming from the Iran war. Median inflation across the countries tracked rose from 2.8 to 3 per cent during the first quarter.

MIDDLE EAST AND THE GULF

Qatar discusses US–Iran agreement with White House envoys

Qatari Prime Minister Sheikh Mohammed bin Abdulrahman Al Thani met White House envoys Steve Witkoff and Jared Kushner in Doha to discuss the interim US–Iran agreement.

Qatar has played a central mediating role as the parties work toward implementing and potentially extending the arrangement.

Iran’s chief negotiator separately said Tehran and Oman had agreed on a legal framework governing maritime services in the Strait of Hormuz. He insisted that the arrangement does not alter Iran’s sovereignty claims over the waterway.

Iranian negotiator Mohammad Bagher Ghalibaf also claimed that Iran had exported more than 40 million barrels of oil since the lifting of the US blockade.

Kuwait signs $400 million defense order

Norwegian defense company Kongsberg Gruppen has announced a roughly $400 million order to supply a defense system to Kuwait.

The transaction will be carried out through Raytheon and the US Foreign Military Sales program.

UAE oil exports reach record level following OPEC exit

The United Arab Emirates exported record volumes of crude oil and condensates in June, according to preliminary ship-tracking data.

The increase followed the UAE’s withdrawal from OPEC and could place additional pressure on the organization’s remaining members as they attempt to manage global supply and prices.

Saudi sovereign wealth fund reports profit increase

Saudi Arabia’s Public Investment Fund reported that its 2025 net profit more than doubled to 65.1 billion riyals, or approximately $17.3 billion.

Revenue rose by nine per cent to almost 450 billion riyals.

UNRWA approaches financial “breaking point”

UN Secretary-General António Guterres has warned that the UN agency supporting Palestinian refugees is nearing a breaking point.

UNRWA faces a funding gap of approximately $100 million despite significant spending cuts and austerity measures.

Mediators revise Hamas disarmament proposal

Mediators working to revive the US-backed Gaza peace plan have developed a modified proposal addressing the disarmament of Hamas.

The reported plan would also require Israeli-backed armed groups in Gaza to surrender their weapons. Approximately 10,000 members of the Hamas-linked civil police could be rehabilitated to maintain public order.

Israeli withdrawal from Lebanese pilot zones faces delays

Israeli officials have told Lebanon that withdrawing troops from two designated pilot zones will take time, according to a Lebanese military official.

The delay could slow implementation of the broader agreement between the two countries.

Residents confront Israeli troops entering southern Syrian town

Residents in Abdin, southern Syria, blocked roads and threw stones as Israeli troops and military vehicles entered the town.

The incident reflects growing local resistance to continued Israeli military operations inside Syrian territory.

TÜRKİYE

Ankara imposes extensive security measures ahead of NATO summit

Türkiye is tightening security ahead of next week’s NATO summit in Ankara, deploying tens of thousands of police officers and placing air defense systems on heightened alert.

Authorities have also restricted public gatherings, demonstrations and some forms of public expression, prompting concerns over freedom of assembly.

Turkish Defense Minister Yaşar Güler said NATO is adapting to a changing security environment but rejected suggestions that the United States is seeking to withdraw from the alliance.

NORTH AFRICA

Egypt seeks release of sailors held off Somalia

Egypt is intensifying diplomatic efforts to secure the release of Egyptian sailors aboard the cargo vessel MT Eureka, which was hijacked by pirates off the Somali coast.

ONEST TAKE

The World Is Spending More to Become Safer — but Mostly After the Damage Is Done

Across today’s briefing, governments are spending enormous amounts of money in the name of security and resilience.