Support The Moscow Times!

Russia Reveals it Does Not Plan to Impose Export Tax on Fertilizers and Metals

Russia's , Deputy Prime Minister Arkady Dvorkovich

Russia does not plan to impose export tax on fertilizers and metals, Deputy Prime Minister Arkady Dvorkovich said Friday, calming concern large exporters would be hit by state efforts to cool prices.

Some ministries have suggested export curbs after the ruble slump encouraged exports and inflated domestic prices.

Russia's government has not looked at imposing a tax on fertilizer exports, Dvorkovich, who is in charge of Russia's main industrial sectors, told reporters in Moscow.

"This question is not being discussed," he said.

The government also has no plan to restrict the export of metals, Dvorkovich said.

The Agriculture Ministry has lobbied for a tax on fertilizer exports in an attempt to help the farming sector. Any tax move could hit the world's top potash producer Uralkali and fertiliser firms Phosagro, Acron, Eurochem and Uralchem.

The Industry and Trade Ministry has proposed limiting exports of steel and non-ferrous metals scrap. Several large steel producers, including Severstal, Evraz, NLMK and MMK, have publicly stated they were against this measure.

Russia's non-ferrous metals sector includes Norilsk Nickel, the world's second largest nickel producer, and aluminum giant Rusal.

… we have a small favor to ask.

As you may have heard, The Moscow Times, an independent news source for over 30 years, has been unjustly branded as a "foreign agent" by the Russian government. This blatant attempt to silence our voice is a direct assault on the integrity of journalism and the values we hold dear.

We, the journalists of The Moscow Times, refuse to be silenced. Our commitment to providing accurate and unbiased reporting on Russia remains unshaken. But we need your help to continue our critical mission.

Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just 2. It's quick to set up, and you can be confident that you're making a significant impact every month by supporting open, independent journalism. Thank you.

Continue

Read more