CARNEY ANNOUNCES NEW RUSSIA SANCTIONS – Canadian Prime Minister pledges over $2BN loan to help rebuild Ukrainian infrastructure
Canadian Prime Minister Mark Carney announced a new package of sanctions against Russia and criticised Iran as the G7 summit wrapped up Tuesday (June 17) in Alberta.
Carney said that Canada is sending “over $2 billion in funding for drones, ammunition, armoured vehicles” and a “$2.3 billion loan to help rebuild the infrastructure” in Ukraine.
Carney also addressed tensions in the Middle East, saying: “G7 leaders also reiterated our commitment to the pursuit of peace and stability in the Middle East. Made clear that Iran is the principal source of regional instability and terror.”
A planned G7 statement on Ukraine was downgraded to a chair summary, which Carney defended: “This was discussed by all seven leaders and they’re in my chair summary.”
He said Canada had not yet responded to U.S. steel and aluminium tariffs, but warned, “We are looking very actively at the risk from third-party or third-country flows and the need to provide protections.”
He closed by emphasising Canada’s energy ambitions and announced a new “Critical Minerals Production Alliance” to support defence and tech industries.
