Carney announces billions in funding for Ukraine at G7 meeting

BANFF, ALTA. — Prime Minister Mark Carney announced wide-ranging new support for Ukraine as he met with President Volodymyr Zelenskyy, including new sanctions against Russia and $2 billion in military funding. Carney announced the new package as he began a bilateral meeting with Zelenskyy in Kananaskis, Alta., on the final day of the annual G7 summit. “To be absolutely clear, this support will be unwavering until we get a just peace for Ukraine and the Ukrainian people,” said Carney. The announcement includes new sanctions targeting Russia’s energy revenues and 201 additional vessels in its shadow fleet, including new restrictions on previously listed ships, which are used to evade sanctions by moving around oil, liquified natural gas, weapons and other items. In a news release, the Canadian government said the sanctions will target 77 individuals and 39 entities, and restricted trade on 1,000 items with Russia. Fifteen people sanctioned are involved with Russia’s shadow fleet. Three individuals and 14 sanctioned entities are involved in the “development of the quantum sector,” technology that can also have military applications, the Canadian government said. Three sanctioned entities are financial firms, which move money in and out of Russia, the government of Canada said, which is then used to pay for war-related materials. Canada also upgraded its sanctions against Russian oil and gas giant Surgutneftegas. Twenty-nine individuals and six entities sanctioned are those who have benefited from the war, including wealthy industrialists, senior government officials and those involved in the “confiscation and redistribution” of the property of assets of foreign companies in retaliation for their criticisms of the war on Ukraine. Forty-five of the sanctioned individuals were identified by the Anti-Corruption Foundation, the non-profit founded by the late regime critic Alexei Navalny, which includes those who support, both directly and indirectly, Russia’s military-industrial complex and disinformation efforts. Carney also committed $2 billion in new funding to purchase drones, ammunition and armoured vehicles, and a new $2.3-billion loan for Ukraine to rebuild infrastructure shattered by Russia’s assault. Zelenskyy thanked Carney for his invitation and his “very important words, warm words” and support for Ukraine. “Ukraine has had, our family has had, a very difficult night, one of the biggest attacks from the very beginning of this war,” said Zelenskyy said, alluding to an overnight missile attack on Kyiv, which he said killed 12 people and injured 130. “It was a big attack on civilian infrastructure.” Zelenskyy said that Ukraine is ready for peace negotiations with Russia. Foreign Affairs Minister Anita Anand joined the meeting with Zelenskyy on Tuesday morning in Kananaskis. In its 2024 annual report tabled in Parliament Friday, the Canadian Security Intelligence Service (CSIS) warned that Russia has developed many clandestine ways to evade sanctions. “Russian aggression extends beyond the current war of aggression in Ukraine, targeting Western states that support the international rules-based order, including through reckless sabotage attempts, and the deceptive evasion of sanctions,” the report says. Shortly before meeting with Zelenskyy, Carney welcomed NATO secretary general Mark Rutte, who will join in discussions with the remaining six G7 leaders about Russia’s war on its neighbour. Since February 2022, Ukraine has been fending off attacks from Vladimir Putin’s Russia. Although Ukraine has the backing of some of the most powerful countries in the world, it has been unable to successfully repel Russia. Overnight, a Russian missile attack brought down a nine-storey apartment building in Kyiv, killing 14 people and wounding another 156. The announcement came on the final day of the G7 Summit. U.S. President Donald Trump, who left the summit early on Monday evening, complained Monday that Russia, which was ejected from what was then the G8 in 2018 over its annexation of Crimea, had not been readmitted to the alliance of wealthy nations. The U.K. also announced sanctions against Russia, targeting people and groups linked to Russian finance, energy and military infrastructure, Reuters reported, including two people based in the U.K. who are accused of sending high-tech electronics to Russia for use in the war on Ukraine. The U.K. also sanctioned 20 vessels in Russia’s shadow fleet. The government of Canada said its new export restrictions include goods related to the production of biological and chemical weapons, industrial goods and some advanced technologies. Canada is also restricting the import of coal, metals and other goods that raise revenue for Russia, the press release says. With additional reporting from The Canadian Press and The Associated Press.  Get more deep-dive National Post political coverage and analysis in your inbox with the Political Hack newsletter, where Ottawa bureau chief Stuart Thomson and political analyst Tasha Kheiriddin get at what’s really going on behind the scenes on Parliament Hill every Wednesday and Friday, exclusively for subscribers. Sign up here.

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