The RF Government has introduced export duties for ferrous and non-ferrous metals w.e.f. August 1, 2021.
According to Governmental Decree No.988 dated June 25, a combined export duty for ferrous and non-ferrous metals will be applicable. It will consist of a basic component making 15% and a specific component that will be set in USD pmt.
The dues will be in force will December 31, 2021.
According to SeaNews’ statistics, Russia exported 14.3 mn tons of ferrous metals in January-April 2021, up 13.2% year-on-year.
In the non-ferrous metals segment, the export of aluminum and copper grew, while nickel export declined during the same period.