Source Pravda.Ru

Russian government going to abolish export duty on silver

The government commission on protective measures in foreign trade and customs and tariff policy, meeting on Monday, decided to repeal the export duty on silver.

The duty at present is 6.5 per cent.

The commission's decision is to be approved before long by a Russian government edict, which will come into force a month after its promulgation.

Gennady Yezhov, press-secretary of Vice-Premier Alexei Kudrin, told journalists that silver from Russia was mainly exported to Customs Union countries, where the duty does not apply. In that way, up to 90 per cent of silver is exported from Russia duty-free.

The proven reserves of silver in Russia are now a lot greater than in other countries. The aggregate market share of explored resources of major producers of this metal -- the US, Canada, Mexico and Australia -- is 40 per cent, with the bulk belonging to Russia. Demand for silver on the world market keeps growing all the time, but prices have been falling over the past few years.

Comments
ISIS threatens to conduct large-scale terrorist attacks in USA for Jerusalem decision
Why did the USSR lose the Moon race?
US military men depressed over of Russia's new T-5000 sniper rifle
Russia to counter Boeing's Х37В with top secret MiG-41 project
Should Russian athletes go to non-Olympic Games in South Korea?
Russia to rebuild its former Soviet naval base in Syria's Tartus
Donbass without militia will be worse than Srebrenica - Putin
Putin to Sobchak: We will never let them turn Russia into another Ukraine
Should Russian athletes go to non-Olympic Games in South Korea?
Should Russian athletes go to non-Olympic Games in South Korea?
Putin: Russia will continue spending enough on defence not to be killed
Putin: Russia will continue spending enough on defence not to be killed
Russia to rebuild its former Soviet naval base in Syria's Tartus
Russia not pulling out from any international agreements, Putin says
Capitalism reduced Indonesian cities to infested carcases
ISIS threatens to conduct large-scale terrorist attacks in USA for Jerusalem decision
Kim Jong-un's tactic of hard power teaches USA lesson of obedience
Kim Jong-un's tactic of hard power teaches USA lesson of obedience
USA looking for reason to see nuclear weapons in action
Tel Aviv, Jerusalem, capitals and puppets
Capitalism reduced Indonesian cities to infested carcases