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Ministry opposes early annulment of nickel, copper export duties

January 28, 2014, 20:46 UTC+3 28
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MOSCOW, January 28. /ITAR-TASS/. Russian Ministry of Economic Development (MED) did not support early annulment of export duties on nickel and copper for support of metal producers, Deputy Minister of Economic Development Alexei Likhachev told journalists.

Previously, some metallurgical companies requested the government about earlier reduction of export duties on nickel and copper than stipulated in WTO commitments.

The issue was under consideration but the ministry was inclined to reject the request, Likhachev said. The current duty of 3.5% will become zero by 2016. Budget would lose $240 million from annulment, he added explaining this would be a considerable loss and “the purely fiscal factor is at work."

The final decision is within competence of the governmental commission on customs tariff regulation.

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