Russia to introduce export duties on metals to protect domestic market from price spikes ...News

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Russia to introduce export duties on metals to protect domestic market from price spikes
source : Russia Today ( News ) () 12
Russia may adopt temporary export tariffs on sales of ferrous and non-ferrous (copper, nickel, aluminum) metals and metal products from August 1 to December 3. The duties will not affect exports to member states of the Eurasian Economic Union, which includes Armenia, Belarus, Kazakhstan, Kyrgyzstan, and Russia. According to the Minister of Economic Development Maxim Reshetnikov, an export duty is determined by an increase of prices for metals globally, and in Russia as well. “Over the five months of this year, export prices for ferrous metals increased by 30% in annual terms, for non-ferrous metals – by 50%. The rise in world prices en

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