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The government has extended the quota for the export of scrap and waste of ferrous metals until the end of the year

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MOSCOW, 31 July – Russian Prime Minister Mikhail Mishustin signed a resolution to extend the quota for the export of ferrous scrap and waste, it will be valid until the end of 2022, informs cabinet press office.

“The government, as part of a consistent policy to regulate the export of metal necessary for the production of industrial products from the country, has decided to extend the tariff quota for the export of scrap and waste of ferrous metals outside the Eurasian Economic Union (EAEU). It will be valid until the end of 2022,” the message says.

It is noted that according to the new resolution, the quota will be 1350 thousand tons. When exporting metal in the amount of the quota, the duty will be 5%, but not less than 100 euros per ton, in addition – 5%, but not less than 290 euros per ton.

“The decision taken is aimed at providing domestic enterprises of the metallurgical industry with strategic raw materials in the face of sanctions pressure from unfriendly countries,” the message says.

According to the Cabinet of Ministers, in 2021 the government introduced temporary export duties on ferrous and non-ferrous metals amid rising world prices for these products. This made it possible to mitigate the impact of external conditions on the situation on the domestic market, adjust prices for raw materials, and ensure the continuation of the implementation of major infrastructure projects.

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