Econ Ministry suggests slapping metals export duties Aug 1–Dec 32

MOSCOW, Jun 24 (PRIME) -- The Economic Development Ministry has suggested slapping temporary export duties on the products of the ferrous and non-ferrous metals industries from August 1 through December 31, and to work out a permanent mechanism to smooth the national metals prices after that, Minister Maxim Reshetnikov said on Thursday at a government meeting.

“Following joint work with the Industry and Trade Ministry, the Finance Ministry, and other authorities, we suggest introducing temporary export duties on key products of the ferrous and non-ferrous metals industries from August 1 through December 31,” he said.

“During the time, we should develop a permanent mechanism that would allow us to accumulate into the budget a part of profits from this exceedingly favorable situation if this situation continues.”

End %%md/jst%%