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Thursday, May 23, 2024

Canada bans aluminum, steel imports from Russia

The imports were worth almost Can$250 million (US 180 million) in 2021, according to the latest government data.

Canada on Friday announced a ban on imports of Russian aluminum and steel products, with the aim of denying Moscow revenues to fund its war in Ukraine.

The imports were worth almost Can$250 million (US 180 million) in 2021, according to the latest government data.

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The ban comes as a 200 percent tariff on Russian aluminum imports announced last month by the United States came into effect, and after the EU already blocked Russian steel products last year.

“Canada, and our partners, have already sanctioned the Russian Central Bank and capped the price of Russian oil and gas,” Deputy Prime Minister Chrystia Freeland said in a statement.

“And now, we are ensuring (President Vladimir) Putin cannot pay for his war by selling aluminum and steel in Canada, in coordination with action taken by the United States today.”

The ban covers Russian unwrought aluminum, aluminum sheets, and finished products including containers and other household items made from aluminum.

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Also prohibited are all primary Russian steel products, including iron and non-alloy steel, semi-finished, and finished products such as tubes and pipes.

Most of Canada’s steel imports come from the United States, representing nearly 45 percent of US steel exports, while almost 90 percent of Canada’s aluminum production is shipped to its southern neighbor.