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. Last Updated: 07/27/2016

Limits on Aluminum Costly, Minister Says

Russia is not dumping aluminum on world markets, and restrictions on Russian exports now being considered by the European Community would cost Russia more than it currently received in aid, according to Russia's top trade official.

Sergei Glazyev, foreign trade minister, said in an interview Tuesday that anti-dumping measures directed against Russian aluminum would undo much of the good done by the aid supplied by Western governments.

"The loss for Russia, for the development of Russian industry, and especially for the fight with unemployment", he added, "will be a lot greater than the aid we receive at present".

Glazyev said that Russia's system of export quotas and tariffs on aluminum meant that dumping did not occur. He said Europe was just trying to protect its own industry because even with export tariffs, Russian aluminum was "more competitive, cheaper, than European aluminum".

Glazyev's ministry has tried for months to monitor and. control raw materials exports, in the new free trade conditions.

Aluminum export tariffs were increased in January amid complaints from Western producers that Russia was dumping on the market, forcing a shutdown 80 percent of European production capacity.

Glazyev denied that an exemption on export tariffs granted to aluminum producers was a change in export policy or a response to the anti-dumping measures.

He said that the exemption on export-duties on 520, 000 tons of aluminum, announced early April, only applied to exports for barter, the same as last year's exemption.