By The Canadian Press

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

Feb 24, 2026 | 7:17 AM

OTTAWA — Prime Minister Mark Carney promised another $2 billion in military aid and more sanctions on Moscow on Tuesday, as Ukraine marked four years since Russia launched its full-scale invasion.

“Four years on, Russia is failing militarily, strategically and economically, and we are in it for the long term,” Carney told reporters before the weekly cabinet meeting on Parliament Hill.

“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.

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Foreign Affairs Minister Anita Anand also announced sanctions against individuals and entities related to Russia’s efforts to target 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.”

Anand will speak about the anniversary later Tuesday during a discussion at the University of Ottawa.

Defence Minister David McGuinty said Canada is sending 400 armoured vehicles to Ukraine that the country requested, while 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 attempting to conscript men living abroad to serve on the front line against Russia.

In a written statement, Carney’s office noted a meeting this 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,” reads the statement.

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.

Dylan Robertson, The Canadian Press