Steel Products Prices North America
Canada Bans Russian Aluminum, Steel Imports
Written by Becca Moczygemba
March 13, 2023
Canada will no longer accept imports of Russian aluminum and steel, Chrystia Freeland, Deputy Prime Minister and Minister of Finance of Canada, announced on March 10.
“Through regulatory amendments under the Special Economic Measures (Russia) Regulations, the importation of all Russian aluminum products, such as unwrought aluminum, aluminum sheets, and finished products including containers and other household items made from aluminum, is now prohibited,” the Department of Finance Canada said in a statement.
Primary Russian steel products, including iron and non-alloy steel, semi-finished, and finished products like pipe and tube, are also part of the ban. In 2021, Canada imported CAD $45 million of aluminum and C$213 million of Russian steel products.
“Ukraine can and must win this war,” said Freeland. “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. Canada, and our partners, have already sanctioned the Russian Central Bank and capped the price of Russian oil and gas. And now, 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.”
This ban will prevent Russia from generating revenue from Canada to pay for its war on Ukraine.
By Becca Moczygemba, becca@steelmarketupdate.com
Becca Moczygemba
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