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. Last Updated: 07/27/2016

Aluminum Import Levy Suspended

Prime Minister Mikhail Fradkov has signed an order lifting a 10 percent import tariff on aluminum scrap and waste for nine months, government officials said Thursday.

A statement on the government web site said the duty would be lifted one month after the order abolishing it is officially published.

Normally the publication in the government newspaper takes place several days after the web site announcement.

After the nine months expire, the government will have to make a decision as to whether to extend the zero tariff indefinitely.

Russia plans to reduce or remove import and export duties on nonferrous scrap as part of the process to gain access to the World Trade Organization, industry officials have said.

Russia will need substantial volumes of aluminum scrap as the country changes many of its energy cables over the coming years, they said.

Domestic aluminum scrap is liable to an export tariff of 50 percent of the customs value but no less than 380 euros ($509.20) per ton.

It was not clear when Russia planned to change other nonferrous scrap tariffs, but an Economy Development and Trade Ministry spokeswoman said a body responsible for drafting government orders was expected to examine next week lifting a 10 percent primary aluminum import tariff.

The dropping of aluminum import tariffs was one of the conditions advanced by the government for the creation of the world No.1 primary aluminum producer United Company RusAl in order to open the country's aluminum market to foreign firms.