Canada expands Russia sanctions, allocates billions in Ukraine aid

The two leaders met at the G7 summit Kananaskis, Alberta, with Zelenskyy arriving on Carney’s invitation.

“We are providing additional military aid: drones, helicopters and various munitions,” said Carney.

“Overall, this is more than $2 billion [CAD] in direct military assistance to Ukraine.” 

In addition, the PM announced a significant expansion of sanctions against Russia. The new restrictions target several individuals and more than 40 organizations in Russia and abroad involved in evading sanctions. More than 200 vessels in the so-called "shadow fleet," used to export Russian crude oil in violation of existing restrictions, are also subject to the measures.

Finally, Carney said his government will extend a $2 billion loan to Kyiv, secured against revenues generated by Russian sovereign assets frozen across Western institutions since 2022.

Zelenskyy was scheduled to meet with U.S. President Donald Trump on the sidelines of the summit in Kananaskis, but the U.S. leader left abruptly on June 16, returning to Washington as he suggested the United States is weighing joining Israel’s war against Iran.