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Kremlin closely watching Russian metallurgy situation — Peskov

Russian Presidential Spokesperson Dmitry Peskov emphasized that the decisions in this area was the prerogative of the government

MOSCOW, July 21. / TASS /. The Kremlin is closely monitoring the situation in the country's metallurgical industry, but decisions in this area are up to the government, Russian Presidential Spokesperson Dmitry Peskov told reporters on Wednesday.

Earlier, Rusal said that the introduction of Russian export duties on metals and metal products could seriously affect the implementation of the company's investment projects. In particular, Rusal may revise the pace of launching the Taishet plant, as well as consider mothballing of a number of productions.

"Of course, we are closely watching how the situation in these industries is developing. But still, this is the prerogative of the government, and this issue, of course, should be addressed to the cabinet of ministers," Peskov emphasized. He answered the question whether the Kremlin is monitoring the situation and whether it will recommend the government to search for other solutions instead of imposing duties.

In Russia, from August to the end of 2021, duties are introduced on the export of ferrous and non-ferrous metals. The government agreed on this decision at a meeting on June 24. Its goal is to stabilize prices for products in the domestic market. The duties will be applied to rolled products, rebar, billets, wire, ingots, as well as copper, nickel and low grade aluminum. The levy will consist of a base rate of 15% and a specific rate, which will be calculated in dollars per tonne. According to the Ministry of Finance, in five months the new measure will bring at least 160 bln rubles to the budget.

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Dmitry Peskov Russia's domestic policy

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