Canada has banned the import of all Russian aluminum and steel products, aiming to cut off Moscow’s ability to fund its war against Ukraine.
Finance Minister Chrystia Freeland stated, “Ukraine can and must win this war. We continue to do everything we can to cut off or limit the revenue used to fund Putin’s illegal and barbaric invasion of Ukraine.”
The ban includes both finished and unfinished aluminum and steel products, impacting imports such as aluminum sheets, containers, and steel tubes and pipes.
This move aligns with coordinated actions by Canada and its Western allies against Russia’s invasion of Ukraine, which have included sanctions on over 1,600 individuals and entities.
Canada has provided more than C$5 billion ($3.6 billion) in financial, military, and other forms of aid to support Ukraine.
“We are ensuring Putin cannot pay for his war by selling aluminum and steel in Canada, in coordination with action taken by the United States today,” Freeland added.
Russia refers to its activities in Ukraine as a “special military operation,” claiming it is countering a security threat posed by Ukraine’s connections to the West.
Last month, the United States implemented a 200% tariff on Russian aluminum and related products, which also took effect on Friday.
Russian aluminum, primarily produced by Rusal, makes up about 6% of the global supply.
In 2021, Canada imported C$45 million worth of aluminum and C$213 million worth of steel products from Russia, according to official figures.
By imposing this ban, Canada seeks to further pressure Russia economically and diminish its capacity to finance military activities in Ukraine.
