Canada and UK could merge war chests to fight Russia – media

The joint military financing umbrella might further streamline taxpayers’ money into arms production and procurement Canada and the UK are considering merging two major military financing initiatives to help European NATO members and other Kiev backers finance their military buildup against Russia, the CBC reported on Wednesday, citing anonymous officials.In recent years, European NATO nations have increasingly accused Moscow of preparing an attack on members of the US-led military bloc, using the alleged threat to justify bloated military budgets. Moscow has denied any such intention.Canada is leading plans for the Defense, Security and Resilience Bank (DSRB), while the UK is pushing for the Multilateral Defense Mechanism (MDM). Both initiatives are intended to make it easier for allied states to finance military purchases and expand arms production. In July, Carney failed to entice then-UK Prime Minister Keir Starmer to join the DSRB as a founding member. However, Burnham’s government is more aligned with Canada on the issue, the CBC reported, citing an anonymous Canadian official.Ottawa is confident the two countries will reach a deal to combine their initiatives into a joint in...