Overview
- Canada announced the 162-item package on Tuesday, June 16, during a meeting between Prime Minister Mark Carney and Ukrainian President Volodymyr Zelenskyy at the G7 summit in France.
- The measures name specific targets across finance, crypto and maritime services, including the Moscow Exchange, Saint Petersburg Stock Exchange, Absolut Bank, crypto firms such as Grinex LLC and TengriCoin CJSC, maritime insurers and managers, and ROSATOM Energy Projects JSC.
- Canadian officials and the presidential sanctions commissioner say the package is designed to cut the financial, crypto and shipping channels that let Russia hide energy shipments and move money outside the traditional banking system.
- The announcement was framed as coordinated pressure with G7 partners and the UK and came alongside talks on deeper Canada–Ukraine defense ties, expanded drone production and a proposed Defense, Security and Resilience Bank to finance Ukrainian projects.
- If fully enforced by allies, Ottawa and experts say the measures could reduce revenue streams that fund Russia’s war effort and complicate sanctions circumvention, but their impact will depend on international follow-through and enforcement.