Canada embargoes aluminum and steel imports from Russia

According to the report of Fars News Agency’s International Economic Correspondent, quoted by Reuters, the Canadian government announced that it has banned the import of all steel and aluminum products from this country in order to reduce Moscow’s ability to finance the military conflict with Ukraine.

Canadian Finance Minister Chrystia Freeland said in a statement: Ukraine can and should win this war. We will do everything we can to cut off or limit the revenue Russia is using for military conflict with Ukraine. This embargo includes all finished or semi-finished steel and aluminum products from Russia.

Since the start of Russia’s military conflict with Ukraine, Canada has started to embargo against Russia along with its western partners and has so far put more than 1600 Russian companies and personalities on its sanctions list. On the other hand, it has given about 3.6 billion dollars in military and financial aid to Kiev.

Freeland said: “We are looking to make sure that Putin cannot finance the continuation of the war by selling aluminum and steel.”

Last month, the United States raised the import tariff of aluminum and related products from Russia by 200%, which took effect last night.

Russia has 6% of the world’s aluminum exports, and in 2021, Canada imported $45 million worth of aluminum and $213 million worth of steel from Russia.

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