The Russian Ministry of Economy wants to re-regulate the law on the customs tariff. This allows the government to temporarily lower export tariffs on goods destined for so-called “friendly” countries, i.e. countries that have not imposed sanctions on Russia. In addition, customs duties on goods from certain regions of Russia may be abolished. An explanation of the draft law states that tariff preferences would apply to exports “to individual friendly countries” and to countries “with which strategic trade and economic cooperation and political interaction are developing intensively”. Within the Eurasian Economic Union, which in addition to Russia also includes Armenia, Belarus, Kyrgyzstan and Kazakhstan, multilateral trade is exempt from customs duties.
Share this post