MOSCOW, November 23. /TASS/. Russia’s subcommittee on customs-tariff and non-tariff regulation, protective measures in foreign trade of the government’s commission on economic development and integration has greenlighted the introduction of the quota on scrap export from December 1 to June 30, 2024 in the volume of 600,000 tons, the cabinet’s press service reported. Minutes of the subcommittee’s meeting was endorsed by First Deputy Prime Minister Andrey Belousov.

"Moreover, the subcommittee approved the initiative of the Industry and Trade Ministry on introducing a quota on scrap export from December 1 to June 30, 2024. The quota remained unchanged at 600,000 tons, same as the intra-quota duty of 5%, but not less than 15 euro per ton. The extra-quota duty will also remain intact at 5%, but not less than 290 euro per ton," the report said.

The extension of current measures will help maintain prices and provide strategic raw materials to local metal enterprises, according to the report.

Earlier, the Economic Development Ministry drafted a governmental decree on extension of the quota in the volume of 600,000 tons on export of scrap and iron-and-steel waste outside the Eurasian Economic Union (EAEU) by July 2024.

In July, Russia’s cabinet extended the quota on export of scrap and iron-and-steel waste by December 31, 2023.