Canada Hits Russia with New Sanctions Targeting Shadow Fleet and Energy

Canada has announced a new sanctions package against Russia covering 162 individuals, entities, and vessels, with measures directed at the country’s shadow fleet, energy revenues, defence-industrial base, and disinformation apparatus.

Prime Minister Mark Carney unveiled the package on June 16 during a meeting with Ukrainian President Volodymyr Zelenskyy on the sidelines of the G7 summit in France.

The move adds to an already extensive sanctions regime. Canada has placed restrictions on more than 3,400 individuals and entities, along with more than 600 vessels connected to Russia’s shadow fleet, the network of tankers used to move oil outside the reach of Western price caps and trade restrictions.

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The two leaders also discussed deepening defence-industrial ties, with a particular focus on advanced technologies including drone production. Canada and Ukraine framed the partnership as one that would draw on each country’s specific strengths while creating jobs in both. Carney raised Ukraine’s reconstruction as well, pointing to potential roles for Canadian expertise in energy, infrastructure, and clean technology, and emphasized the importance of continued reform to strengthen Ukraine’s long-term resilience.

The new measures follow a $270 million commitment Carney announced last month to help Ukraine secure critical military capabilities. That pledge came during the European Political Community summit in Armenia, where leaders gathered to discuss strategic cooperation on security, politics, and infrastructure.

The latest sanctions push reflects a broader effort by G7 nations to maintain economic pressure on Moscow. The European Union is separately moving to fast-track a 21st sanctions package of its own, with measures expected to tighten restrictions on oil revenues, banking, and shadow fleet operations.

Canada has been coordinating closely with the EU and other partners on maritime sanctions in particular, as Western governments look to close loopholes that have allowed Russia to sustain its war economy despite years of escalating restrictions.


Information for this story was found via the sources and companies mentioned. The author has no securities or affiliations related to the organizations discussed. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

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