MOSCOW, September 21. /TASS/. The Russian government is introducing flexible export duties on some goods to protect the domestic market, the press service of the Cabinet of Ministers reported. They will come into effect on October 1 and will be tied to the ruble exchange rate.
"From October 1, flexible export duties on a wide range of goods linked to the ruble exchange rate will start to operate in Russia. A decree to that effect has been signed. The measure is temporary and is aimed at protecting the domestic market," the statement says. It is noted that flexible export duties "will remain in effect until the end of 2024."
Their size will vary from 0 to 10% for different products. Basically, "the duty will be from 4% to 7% depending on the exchange rate of the national currency," "at 80 rubles per dollar and below it will be zero." "For fertilizers, the duty will be up to 10% depending on the ruble exchange rate," the government indicated.
According to the document published on the Cabinet of Ministers website, the duty will be 4% at an exchange rate of more than 80 and less than 85 rubles per dollar, 4.5% at an exchange rate of 85-90 rubles per dollar, 5.5% from more than 90 to less than 95 rubles per dollar, and 7% at an exchange rate of over 95 rubles inclusive.
The government explained that such measures were introduced to "maintain a rational ratio between the export of goods and domestic consumption." "The decision taken will help protect the domestic market from unjustified price increases," they noted.
Earlier on Thursday, the government approved another decision to stabilize prices - it temporarily limited the export of gasoline and diesel fuel from Russia. According to the Cabinet of Ministers, this will help "saturate the fuel market, which in turn will reduce prices for consumers."