Russian government to provide additional support to domestic aluminum sector this year

Denis Manturov. Photo: Kremlin.ru

The Russian government plans to zero the duty on the export of aluminum alloys from the country, which was introduced on August 1, 2021, according to a recent decision of the governmental commission on economic development and integration.

 

Such a decision became a response to recent calls of industry’s enterprises to zero the duty. At the same time, the duty on unprocessed (unalloyed) aluminum will remain at the current level - 15%, but not less than US$254 per ton.

 

The decision is mainly aimed at supporting the investment program of UC Rusal, follows from the explanations of the government. The generated funds will help implement the program for the construction of high-tech and environmentally friendly plants in Russia.

 

 

By 2030, it is planned to rebuild four aluminum plants – in Krasnoyarsk, Bratsk, Irkutsk and Novokuznetsk, to expand the Taishet anode factory. All these enterprises are owned by UC Rusal. The zeroing of the duty will also help stabilize the work of small and medium-sized enterprises of secondary metallurgy, according to recent statements, made by the  Minister of Industry and Trade Denis Manturov.

 

By: Eugene Gerden