ANNOUNCEMENT 05 Sep 2017
On the 5th of September 2017, the Russian Government announced the reduction of the export duties rates on tungsten ores and concentrates exported from Russia outside the Customs Union.
NUMBER OF INTERVENTIONS
The Russian Government (2017). ПОСТАНОВЛЕНИЕ ПРАВИТЕЛЬСТВА РФ ОТ 5 СЕНТЯБРЯ 2017 Г. N 1069 "О СНИЖЕНИИ СТАВОК ВЫВОЗНЫХ ТАМОЖЕННЫХ ПОШЛИН НА ТОВАРЫ, ВЫВОЗИМЫЕ ИЗ РОССИИ ЗА ПРЕДЕЛЫ ГОСУДАРСТВ ТАМОЖЕННОГО СОЮЗА". (Resolution of the Government of the Russian Federation of September 5, 2017 No. 1069 "On the reduction of the export duties rates on goods exported from Russia outside the borders of the Customs Union"). Available at http://government.ru/docs/29155/
With the Resolution No. 1069 dated 5th of September 2017, the Russian Government announced the reduction in the export duties rates on tungsten ores and concentrates exported from Russian Federation to countries outside of the Customs Union. The reduction in the export duties was announced as temporary for the period of three months.
A significant decrease of the world market prices and in the production volume of tungsten ores and concentrates at Russian enterprises were the reasons for the temporary abolishment of export taxes of tungsten ores and concentrates.
The reduction of export duties paid by the Russian companies creates a bigger incentive for export, thus negatively affecting foreign companies.
This state initiative affects jurisdictions that do not belong to the Customs Union: Belarus, Kazakhstan, Armenia and Kyrgyzstan were not affected by the measure.