The Russian government has been granted authority to reduce export duties on certain goods sent to friendly countries for a period of up to six months. A government agency notes changes described as a set of adjustments to the law, signaling a push to stimulate overseas sales in select markets. In this context, the move is framed as a practical step to support exporters during times of sanctions and logistics shifts, rather than a broad policy shift for all sectors.
Key amendments to the laws On Customs Tariffs and On the Principles of State Regulation of Foreign Trade Activities were signed, and Prime Minister Mikhail Mishustin outlined how these changes will encourage shipments of grain, fertilizer, and other products to partner nations. The intent is to bolster Russia’s trade flows with countries viewed as friendly, while providing governments and industry with more flexible tools to manage export dynamics in the current global environment.
Officials emphasise that this measure will assist Russian companies facing sanctions and help regions where transportation costs have climbed due to changes in logistics. The government aims to ease the burden on exporters by widening the range of products eligible for favorable treatment and by offering a clearer framework for tariff-related decisions, all with the aim of preserving competitive access to essential foreign markets.
Another provision gives the Cabinet of Ministers the right to set tariff quotas for up to one year, allowing for reduced or zero customs duties on certain volumes of goods shipped to friendly countries. This mechanism is designed to provide predictable pricing signals for exporters and to smooth the flow of goods in markets that are sensitive to price fluctuations and supply constraints.
In addition, authorities may introduce a special system to monitor export prices in order to calculate export tax rates more transparently. This framework is intended to ensure that tax measures reflect actual market conditions while giving exporters a clearer understanding of how duties are determined in different scenarios.
The rules for calculating the average price of Urals crude used to determine the size of the export tax have been clarified. Specifically, starting from January 1, 2024, the price will incorporate transportation costs for delivering Urals oil to Mediterranean and Rotterdam markets, providing a broader basis for price assessments and helping to align tax calculations with actual market realities.
Earlier steps included quotas for scrap exports from the country, reflecting a broader effort to manage raw material flows and balance export volumes with domestic needs. These measures were part of a wider approach to maintain steady supply chains in the face of shifting global demand and trade rules, ensuring steady revenue streams for national producers.
Additionally, Russia extended quotas for the export of mineral fertilizers, reinforcing the aim of supporting agricultural sectors in partner nations while maintaining adherence to regulatory frameworks for trade. Such extensions are presented as a way to sustain steady shipments of essential inputs to selected foreign markets, even as other regions tighten or adjust their trade policies.