Russia has imposed a temporary ban on the export of precious metal waste and scrap. This decision will allow for increasing the workload at Russian refining plants and boosting tax revenues.
According to the resolution signed by the Government, the restriction will be effective for six months – from May 20 through November 20, 2024.
During this period, Russia will not export precious metal waste and scrap or metals or precious metal-clad metals as well as other waste and scrap containing precious metals or precious metal compounds. A temporary ban will also apply to the export of waste and scrap of electro-technical and electronic products that are mostly used for extracting precious metals and are important for the domestic market.
A ban will not apply to the export of cathode antimony in ingots or samples taken from shipments of scrap and waste precious metals exported by refiners. That said, the mass of one sample shall not exceed 500 g in one consignment, regardless of the number of such consignments under a foreign trade contract.
Similar restrictions were valid from November 1, 2023 through April 30, 2024 and earlier – from March 20 through September 20, 2023. Such measures are making it possible to increase the workload at Russian processing enterprises, including precious metal refining plants, and attract significant amounts of secondary raw materials that contain precious metals into the processing and production of precious metals.
