9/21, 6:46 PM (Source: TeleTrader)
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Russia sets dollar-ruble linked export duties

Russia introduced on Thursday export duties related to the dollar-ruble exchange rate, the government's press office revealed in a statement. The order will come into effect on October 1.

Moscow shared that the measure, set to "protect the domestic market," will be implemented temporarily and last until the end of 2024.

The duty for various goods will vary between 4% to 7%, while it will be zero for those where the exchange rate is 80 rubles per dollar or below. For fertilizers, in particular, the export duty will be up to 10%.

Baha Breaking News (BBN) / AY