At G7, Carney announces new Russia sanctions, says Iran source of ‘instability’

KANANASKIS, Alberta: Canadian Prime Minister Mark Carney announced a new package of sanctions against Russia and criticized Iran as the G7 summit wrapped up Tuesday (June 17) in Alberta.

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Canada announced over $4 billion in aid and loans to Ukraine and joined partners in sanctioning Russia's shadow fleet.
G7 blamed Iran for regional instability and reaffirmed their commitment to peace in the Middle East.
Canada warned of steel tariff risks and launched a minerals alliance to bolster defense and tech supply chains.

"With our international partners, we're launching a major new package of sanctions on individuals and companies on vessels, the shadow fleet, to exert maximum pressure on Russia," Carney said. He added that Canada is sending “over $2 billion in funding for drones, ammunition, armored 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 about the risk from third party or third country flows... and the need to provide protections.”

He closed by emphasizing Canada’s energy ambitions and announced a new “Critical Minerals Production Alliance” to support defense and tech industries.