• June 25, 2024

Russia Introduces Flexible Export Duties

 Russia Introduces Flexible Export Duties

Image: selensergen

Image: selensergen

Russia has introduced flexible export duties on tobacco products, alcohol products, live animals, fish, dairy products, vegetables, fruits and many other goods, reports Tass.

The temporary measure is set at 4 percent to 7 percent at an exchange rate above RUB80 ($0.83) per dollar. At RUB80 per dollar and below, the duty will be zero.

The measure is aimed at protecting the domestic market, and there are exceptions for some items.