1 Aug 2022 10:51

Tariff quota for ferrous metal scrap and waste exports outside of EAEU extended until end-of 2022

MOSCOW. Aug 1 (Interfax) - The Russian government has extended the tariff quota for the exports of ferrous metal waste and scrap outside of the Eurasian Economic Union (EAEU) until the end of this year, the Russian government press service said.

The quota will amount to 1,350,000 tonnes under the relevant government resolution. The customs duty will be 5% for metal exported within the quota but no less than 100 euro per tonne and 5% for additional metal scrap and waste exports but no less than 290 euro per tonne, the government press service said in a statement on Sunday.

"The adopted decision is to help ensure the provision of domestic metallurgical enterprises with the strategic raw materials amid the sanction pressure from unfriendly countries," it said.

In 2021, the government introduced temporary export duties for ferrous and non-ferrous metals amid growing prices on global markets, it said.

"That helped mitigate the impact of external market conditions on the domestic market situation, adjust commodity prices and ensure the continued implementation of large infratstructure projects," the Russian government said.