Putin urged metallurgists not to be offended by Belousov’s words about “squeezing”

President Vladimir Putin asked metallurgists not to be offended by the words of First Deputy Prime Minister Andrei Belousov, who had previously stated that they had “pushed on” the state and the budget.

“As for the metallurgists, I ask my colleagues, I know all of them by name, we have known them for many years, not to be offended by Andrei Removich, he spoke harshly in the heat of the discussion. The fact is that the conjuncture has changed and the industry has begun to receive super profits, and, of course, wants to receive the same income not only from exports, but also domestically. Well, you can understand them – but why lose money if you can earn it. On the other hand, this leads to some distortions in the economy, ”said Mr Putin during the St. Petersburg International Economic Forum.

Mr. Belousov said that against the backdrop of a pandemic in 2020, Russian metallurgical companies increased their revenues “several times”, including due to higher prices in the domestic market. According to him, the companies must return about 100 billion rubles to the budget. For this, according to the First Deputy Prime Minister, it is better to raise the MET than to introduce an export duty.