Russia's Industry and Trade Ministry submits list of products to Finance Ministry on which to impose excise duty on imported steel

MOSCOW. Oct 30 (Interfax) - Russia's Industry and Trade Ministry has submitted to the Finance Ministry a draft list of metal products on which it is proposed to impose an excise duty on imported steel, the ministry's press service told Interfax.

"Taking into account the consolidated position of the industry, as represented by the Russian Steel association, the Industry and Trade Ministry has compiled a draft list of metal products that would be subject to an excise duty upon entry into the customs territory of the Russian Federation," a ministry representative said.

The representative clarified that the list includes approximately 500 codes for steel products of the Eurasian Economic Union (EAEU) Foreign Economic Activity Commodity Nomenclature (FEACN), including flat-rolled products, long products, pipes, hardware/metal fasteners, and steel structures.

The Industry and Trade Ministry proposes imposing the excise duty exclusively on products originating from third countries outside the EAEU, the ministry emphasized.