Carney pledges sanctions, $2 billion for Ukraine four years after full-scale invasion

“Russia is failing. The sooner they come to the table and actually participate in peace negotiations, the better it will be.”

Carney said the new sanctions will target 100 vessels in the “shadow fleet” which are involved in attempts to evade sanctions on Russian oil sales.

A statement from his office said Ottawa is also pledging $20 million to rebuild infrastructure damaged by Russia’s strikes.

Foreign Affairs Minister Anita Anand announced sanctions targeting individuals and entities related to Russia’s efforts to hit Ukraine’s electricity grid during an exceptionally cold winter.

A listing by Global Affairs Canada shows Ottawa is adding targeted sanctions against 21 individuals and 53 entities, and is joining with allies to lower the oil price cap in order to reduce the revenue Russia uses to pay for its war.

The listing says the measures target “cryptocurrency infrastructure, while also degrading Russia’s conventional and hybrid military capabilities, including its artificial intelligence ecosystem and drone production.”

Defence Minister David McGuinty said Canada is sending 400 armoured vehicles to Ukraine, which the country requested, and is extending a training mission for Ukrainian troops by three years. 

When asked whether the vehicles come from the Canadian Armed Forces’ existing stock, McGuinty said they will come from “an acceleration of production of matériel” through the recently announced defence industrial policy.

Moscow invaded Ukraine in 2014, taking control of Crimea and claiming other parts of the country, before launching its full-scale invasion on Feb. 24, 2022.

This anniversary lands after several rounds of talks aimed at ending the war, and as a deep skepticism has settled in among European leaders about Washington’s interest in a peace deal that would prevent Russia from continuing the war.

Ukraine is ramping up its recruitment efforts and is now trying to conscript men living abroad to serve on the front line against Russia.

In a written statement, Carney’s office noted a meeting Tuesday morning of the Coalition of the Willing, a group of countries supporting Ukraine.

“We are now at a critical point in this war, where the possibility of peace is real. Canada is working with Ukraine and international partners … to accelerate efforts toward a just and lasting peace backed by robust security guarantees,” says the statement.

Anand echoed that message at a Tuesday event held by the University of Ottawa.

“The work that we need to do now is to ensure that Ukraine is equipped to fight and win this war,” she said.

“The West, and in particular NATO allies, need to continue to support Ukraine in matters relating to air defence capabilities, counter-drone defences, interceptor missiles and energy infrastructure. Assuming that we can support Ukraine on these pillars, the question then becomes, can Russia survive?”

Anand said the Canadian Security Intelligence Service is tracking the high death rate of Russian soldiers in the Ukraine campaign.

“There are estimates, including from CSIS, that 35,000 Russian soldiers per month are being killed on the battlefield. And since 2022, 1.2 million people,” she said.

“As a mom of four myself, I can only imagine how hard it is for the families who are experiencing the loss of loved ones on either side of the legitimate border.”

In the House of Commons, MPs stood and held a moment of silence Tuesday “for Ukraine and the victims of Russian aggression,” following a motion tabled Monday by Liberal MP Kevin Lamoureux.

Gov. Gen. Mary Simon said in a statement Tuesday that Canadians are “steadfast” in their support for Ukraine and that, despite the “senseless loss of life,” Ukrainians are inspiring the world with their courage.

This report by The Canadian Press was first published Feb. 24, 2026.