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Russia introduces flexible export duties on ferrous and precious metals — Cabinet

Export duties are also introduced on copper with some exceptions, nickel and products made from it, aluminum with some exceptions, lead, zinc, tin, wolfram and titanium

MOSCOW, September 21. /TASS/. The Russian government has introduced flexible export duties on precious metals, precious stones, pearls, ferrous and non-ferrous metals in the range of 0% to 7% depending on the dollar exchange rate, according to a government decree.

The list includes natural or cultured pearls, precious or semi-precious stones, precious metals, including gold and silver, ferrous metals, except granules and powders from pig and mirror cast iron, ferrous metals, and ferrous metal products. Export duties are also introduced on copper with some exceptions, nickel and products made from it, aluminum with some exceptions, lead, zinc, tin, wolfram and titanium.

Earlier, the Russian government announced that from October 1, flexible export duties will be applied to a wide range of goods and these duties will be tied to the ruble exchange rate. The measure is temporary and aimed at protecting the domestic market. The duty will range from 4% to 7% depending on the exchange rate of the national currency. At 80 rubles per dollar and below, the duty will be zero.

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