On Friday, Canada foreign minister included "seafood" and "fish" in a ban on a range of "luxury goods" that will no longer be allowed into Canada.

Canada's Minister of Foreign Affairs Melanie Joly said the ban is also targeted at alcoholic beverages and non-industrial diamonds in that category. Together the products represented $75.7 million (€71 million) worth of goods in 2021, according to the Canadian government.

The minister imposed the sanctions "in response to Russian President Vladimir Putin’s ongoing egregious and unjustifiable invasion of Ukraine."

"Canada, together with our allies, will be relentless in our efforts to maintain pressure on the Russian regime, until it is no longer able to wage war. We are unwavering in our support for Ukraine and its people."

The bans were enacted to align Canada with measures imposed by the United States and the European Union, and are meant to specifically target Russian oligarchs looking to circumvent restrictions through the luxury goods markets.

Canada's High Liner Foods has seen major impacts from the current geopolitical crisis in Ukraine, and the company has stated it expects challenges further down the line. Global supply challenges impacted sales volumes by approximately four million pounds, or five percent, in the first quarter.

High Liner CFO Paul Jewer confirmed that is in part due to the reduced whitefish available because of Russia's war in Ukraine.

He said the company is likely to face similar shortages in whitefish for the next couple upcoming quarters. Jewer emphasized, however, that the company has made "favorable changes in its product mix despite inflationary impact on product costs."

High Liner stopped sourcing from Russia before the invasion because it had already built up inventories in response to the global container shipping crisis, an analyst told IntraFish in March.

Earlier in March, Canada's Icewater Seafoods said it canceled imports of cod from Russia, its main supplier, following the invasion of Ukraine.