4 Jul 2024 14:04

Russian govt temporarily exempts non-alloy pig iron, several types of rolled products from 'exchange rate' export duties

MOSCOW. July 4 (Interfax) - The Russian government has temporarily exempted certain types of metals products from the so-called "exchange rate" export duties, according to the corresponding government resolution.

The resolution indicates that the exemption includes non-alloy pig iron with codes 7201 10 190 0, 7201 10 300 0, and 7201 10 900 0; as well as steel rods, including hot-rolled, with codes 7213 10 000 0, 7213 91 490 0, and 7227 90 100 0.

The duties have been suspended from June 1 to August 31, 2024, inclusive.

Export duties linked to the ruble exchange rate are valid from October 1, 2023, until the end of 2024, ranging from 4% to 7% depending on the exchange rate. The duty is zero when the exchange rate is 80 rubles/$1 and lower.