OTTAWA, Walk 10 – Canada on Friday restricted the import of all Russian aluminum and steel items in a move that Ottawa said was pointed toward denying Moscow the capacity to support its conflict against Ukraine.
“This war can and must be won by Ukraine. In a statement, Finance Minister Chrystia Freeland stated, “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.”
According to the statement, the ban would have an effect on the import of products such as aluminum sheets, aluminum containers, and steel tubes and pipes. It applies to both finished and unfinished products.
Canada and its Western allies have coordinated their responses to Russia’s invasion of Ukraine. In response to the invasion, Ottawa has imposed sanctions on over 1,600 individuals and organizations and provided Kyiv with over C$5 billion (3.6 billion USD) in financial, military, and other assistance.
“We are guaranteeing Putin can’t pay for his conflict by selling aluminum and steel in Canada, in a joint effort with move made by the US today,” Freeland said.
Russia describes its actions in Ukraine as a “special military operation” to combat a security risk posed by Ukraine’s ties to the West.
The United States of America announced a 200 percent tariff on Russian aluminum and related goods last month, which took effect on Friday. Rusal (RUAL.MM), which produces Russian aluminum and supplies about 6% of the world’s demand, is the primary producer
In 2021, according to official data, Canada imported aluminum worth C$45 million and steel goods worth C$213 million from Russia.
($1 is equivalent to $1.3794 Canadian currency)
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China were ban to import
If China were to ban imports from Russia, it would have a significant impact on the trade relationship between the two countries. As two major global powers, China and Russia have a close economic partnership, with Russia being a major supplier of energy and raw materials to China.
If China were to ban imports from Russia, it would likely be due to political or economic tensions between the two countries. However, any such ban would also have implications for other countries and international trade, as China and Russia are major players in global trade and supply chains.
It’s important to note that any news of a ban on imports from Russia by China should be verified from reliable sources, as false or misleading information can be spread on the internet.
China and Russia Import
China and Russia have a close economic relationship, and trade between the two countries has grown significantly in recent years. Russia is a major supplier of energy and raw materials to China, while China exports a range of manufactured goods to Russia.
According to the data from the World Bank, China is currently the second-largest importer of goods from Russia, after the European Union. In 2019, China imported goods worth approximately $58 billion from Russia, including crude oil, coal, timber, and various minerals.
On the other hand, Russia is also an important market for Chinese exports, with China being the largest trading partner of Russia. In 2019, China exported goods worth around $56 billion to Russia, including machinery, electrical equipment, and various consumer goods.
The trade relationship between China and Russia is important for both countries, and any disruptions to this relationship could have significant implications for the global economy.
Certainly! As mentioned before, China and Russia have a close economic relationship, and trade between the two countries has grown significantly in recent years. Here are some additional details about the trade relationship between China and Russia:
- Energy trade: Russia is a major supplier of energy to China, with crude oil and natural gas being the top two commodities that Russia exports to China. In 2019, China imported around 71 million tons of crude oil from Russia, making it the largest supplier of oil to China. Russia also exports significant amounts of coal and uranium to China.
- Raw materials trade: Russia is also a major supplier of raw materials to China, including timber, metals, and minerals. For example, China imports significant quantities of nickel, palladium, and platinum from Russia.
- Agricultural trade: China and Russia have been working to increase agricultural trade in recent years, with China importing more agricultural products from Russia. In 2019, China imported around $1.8 billion worth of agricultural products from Russia, including soybeans, wheat, and sunflower seeds.
- Manufacturing trade: China exports a range of manufactured goods to Russia, including machinery, electrical equipment, and various consumer goods. China is the largest supplier of consumer goods to Russia, with Chinese-made products accounting for around 25% of all consumer goods sold in Russia.
Overall, the trade relationship between China and Russia is important for both countries. The two countries have been working to deepen their economic ties in recent years, with the goal of increasing trade and investment between them.