
Canada announces $4.3-billion in new support for Ukraine and sanctions on Russia's ‘shadow fleet'
Prime Minister Mark Carney announced $4.3-billion in new Canadian support for Ukraine and new sanctions targeting the 'shadow fleet' of vessels that Russia is using to skirt international trade restrictions.
The measures include $2-billion in military support for Kyiv, including funds for drones, ammunition and armoured vehicles, as well as a $2.3-billion loan to help Ukraine rebuild public infrastructure shattered by years of Russian bombing.
This is Canada's first substantive support for Ukraine since Mr. Carney became prime minister in March. The Prime Minister's Office said the money was tucked into Ottawa's big defence spending hike unveiled earlier this month but not announced until Tuesday.
The 'shadow fleet' sanctions follow similar measures unveiled by Britain and the European Union in recent years. These vessels are used sell Russian oil to raise money for Moscow, now into the fourth year of its war on Ukraine.
Ukrainian President Volodymyr Zelensky came to the summit looking for more help and tougher sanctions on Moscow. Hopes for a united show of support were dashed by Donald Trump who quit the meeting Monday after making another pitch to bring Russia back into the G7 fold.
Mr. Zelensky made his pitch Tuesday morning to other G7 leaders even as Ukraine's capital of Kyiv recovers from the deadliest attack by Russia in months.
An overnight Russian missile and drone bombardment of Ukraine killed 15 people and injured 156, local officials said Tuesday, with the main barrage demolishing a nine-story Kyiv apartment building in the deadliest attack on the capital this year.
Mr. Carney expressed sympathy for victims of the latest Russian attack.
'This underscores the importance of staying in total solidarity with Ukraine and the Ukrainian people,' he said.
He said G7 leaders discussed Ukraine Monday night. 'We underscored the importance of using maximum pressure against Russia, who has refused to come to the table.'
Mr. Zelensky thanked Mr. Carney for applying the new sanctions and offering additional military support. He called the Russian attack overnight 'a big tragedy for' Ukraine.
'Really it was a big attack on civilian infrastructure. On people. Just people, houses.'
Mr. Trump earlier this month suggested peace is not his priority in Ukraine right now and that the two sides may just need to 'keep fighting' before a ceasefire is possible.
On Monday, he renewed his pitch to expand the G7.
'I think you wouldn't have a war right now if you had Russia in,' Mr. Trump said of the Group of Seven. 'You spend so much time talking about Russia, and he's no longer at the table,
With reports from Campbell Clark and Associated Press
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With recognized ESG standards and structuring partnerships with anchor customers, NMG is set to become a strategic supplier to the world's leading lithium-ion battery and EV manufacturers, providing advanced materials while promoting sustainability and supply chain traceability. Article content Subscribe to our news feed: Cautionary Note Regarding Forward-Looking Information This press release contains 'forward-looking information' and 'forward-looking statements' within the meaning of applicable securities legislation (collectively, 'forward-looking statements'), including, but not limited to, the Company's ability to secure its project financing and to secure a positive FID, the completion of the Phase-2 Matawinie Mine and Bécancour Battery Material Plant, and those statements which are discussed under the 'About Nouveau Monde' paragraph and elsewhere in the press release which essentially describe the Company's outlook and objectives. Forward-looking statements are based upon a number of estimates and assumptions that, while considered reasonable by the Company as of the time of such statements, are inherently subject to significant business, economic and competitive uncertainties and contingencies. These estimates and assumptions are not guarantees of future performance and may prove to be incorrect. Moreover, these forward-looking statements are based upon various underlying factors and assumptions, including the business relationship between the Company and its stakeholders, the ability to obtain sufficient financing for the development of the Matawinie Mine and the Bécancour Battery Material Plant, the Company's ability to satisfy the due diligence processes of the stakeholders, and are not guarantees of future performance. 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Many of these uncertainties and contingencies can directly or indirectly affect, and could cause, actual results to differ materially from those expressed or implied in any forward-looking statements. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements are provided for the purpose of providing information about management's expectations and plans relating to the future. The Company disclaims any intention or obligation to update or revise any forward-looking statements or to explain any material difference between subsequent actual events and such forward-looking statements, except to the extent required by applicable law. Further information regarding the Company is available in the SEDAR+ database ( and for United States readers on EDGAR ( and on the Company's website at: Article content Article content Article content Article content Contacts Article content