The Russian government received the right to reduce export duties on certain goods to friendly countries for up to six months. The agency reports that “Hit the primer” referring to a number of changes in the law.
Relevant amendments to the laws “On Customs Tariffs” and “On the Principles of State Regulation of Foreign Trade Activities” were signed. As Prime Minister Mikhail Mishustin explained, this will stimulate the export of grain, fertilizer and other goods to friendly countries.
“This will help Russian companies subject to sanctions, as well as regions where transportation costs have increased due to changes in logistics,” the head of government said.
In addition, the Cabinet of Ministers received the right to establish tariff quotas for up to one year – reduced or zero customs duty for a certain amount of goods supplied to friendly countries.
The government may also introduce a special mechanism to monitor the prices of exported goods to calculate export tax rates.
The rules for calculating the average price of Ural oil used to determine the size of the export tax will also be clarified. In particular, from January 1, 2024, this price will also include transportation costs for the delivery of the Urals to the Mediterranean and Rotterdam markets.
Before that in Russia introduced Quotas for scrap exports from the country.
Previously in Russia elongated quotas for the export of mineral fertilizers.