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Resolution of September 14, 2021 No. 1551

Document

Resolution of September 14, 2021 No. 1551

Export duties on ferroalloys and powdered iron will be adjusted. The resolution on this was approved by the Prime Minister Mikhail Mishustin. The adopted decision will allow supporting metal producers, strengthening their export potential and maintaining employment at large enterprises.

For ferromanganese, the duty rate will be 5%, but not less than USD 49 per 1 ton; for ferrosilicochromium – 5%, but not less than $ 71 per ton; for ferrochrome – 5%, but not less than 57, 109 or 134 dollars per ton (depending on the type of alloy).

The decree also provides for the abolition of export duties on iron powder, ferromolybdenum, ferroniobium, ferrotungsten, ferrotitanium. The decision comes into force 30 days after the official publication of the document and applies to legal relations that arose from September 3, 2021.

In June, the Government established temporary duties on the export of ferrous and non-ferrous metals… The decision was dictated by an increase in world prices for metal products. Its rise in price made it difficult to implement large infrastructure projects and required additional costs for the construction of social facilities. The introduction of duties made it possible to mitigate the influence of external conditions on the domestic market.

The current decision to revise some rates of customs duties was made in response to requests from industry representatives and is associated with a partial change in the situation on foreign markets.

The signed document changesGovernment Decree of August 30, 2013 No. 754

EDITOR’S NOTE: This article is a translation. Apologies should the grammar and or sentence structure not be perfect.

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