MOSCOW, Oct. 31From November 1 of this year, the Government of the Russian Federation is reintroducing for six months a temporary ban on the export of waste and scrap precious metals from the country to increase the utilization of domestic refineries and increase tax revenues, the Cabinet of Ministers said in a statement.
«A temporary ban on the export is being introduced in Russia waste and scrap of precious metals… The restriction will be in effect from November 1, 2023 to April 30, 2024 inclusive,” the message said.
Previously, a similar ban was in effect in Russia from March 20 to September 20 this year. Previously, it was also introduced from August 31, 2022 to February 28, 2023, and from February 1 to July 31, 2022. Summing up the results of the ban in 2022, the Ministry of Finance reported that this made it possible to double the volume of recycling, the Parliamentary Gazette wrote.
«The removal of waste and scrap electrical and electronic products used will also be suspended for the extraction of precious metals, which are important for the country's domestic market,» the release says.
«The decision will increase the workload of Russian refineries and increase tax revenues. In addition, it will help reduce illegal foreign trade transactions related to the export of precious metals. metals,» explains the Cabinet of Ministers.