Russian Industry and Trade Ministry proposes rescheduling steel excise payments, MET for iron ore to end of 2026

MOSCOW. Feb 11 (Interfax) - The Russian Industry and Trade Ministry has proposed rescheduling the due date for liquid steel excise payments and mineral extraction tax (MET) payments for iron ore to the end of 2026, as well as exempting strategic investment projects in the completion stage from the excise payments for a period of three years following the end of the investment phase, Industry and Trade Minister Anton Alikhanov said at a meeting of the State Duma Industry and Trade Committee.

He also said that it was essential to develop additional measures against imports, which remain high despite decreased demand, and to prioritize Russian-produced metals in procurement for infrastructure projects such as the high-speed railway.

"The day after tomorrow [February 13], I will discuss these initiatives with colleagues and industry representatives at Denis Valentinovich's [First Deputy Prime Minister Denis Manturov] meeting," he said.

Russia's steel output fell 5.2% in 2025, while the production of pipes decreased 13.9% and the volume of steel smelting fell 4.6%, Alikhanov said.

The minister said that the situation with Russian ferrous metals production was not straightforward. "The narrowing of demand for steel on the domestic market comes as prices drop to their lowest in 10 years," he said.

Alikhanov also said that "in exports, the industry has seen an improvement in the logistics situation after the rules for the movement of empty freight cars were adjusted, but prices are also low on a global scale due to the global surplus of steel capacities, primarily in China, and dumping by other countries". The increased ruble exchange rate also works to the detriment of exporters.