Imports of Steel, Aluminum Imposed Ban by Canadian Govt

BUSINESS(B-Trams):

WASHINGTON:According to a statement released by Global Affairs Canada, the Canadian government has imposed a ban on the import of Russian steel and aluminum products.

According to the statement, the recently implemented amendments to the Special Economic Measures (Russia) Regulations prohibit Canadians from importing steel and aluminum purchased from Russia or a Russian national.

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Unwrought aluminum, aluminum sheets, a variety of finished aluminum household items, and even containers are all targets of the ban on imports of aluminum.

The list of Russian steel products includes, among other things, iron and non-alloyed steel, semi-finished products like tubes and pipes, and construction materials for railroads or tramways.

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As per Worldwide Issues Canada, the actions were presented in light of the fact that Ottawa trusts Russia’s activities “comprise a grave break of global harmony and security that has brought about a serious worldwide emergency.”

However, according to the statement, the Canadian government has made an exception for products acquired through contracts that were in effect prior to the new amendments.

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Chrystia Freeland, Minister of Finance and Deputy Prime Minister, stated separately that the new measures would prevent Russia from using steel and aluminum revenue to fund its special military operation in Ukraine.

Canada imported $154 million worth of steel products and $32.5 million worth of aluminum from Russia in 2021, according to available data.

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