Russia has introduced a temporary ban on the export of precious metal waste and scrap. The relevant resolution has been signed.
The ban will be effective from November 1, 2023 through April 30, 2024. The ban introduced earlier was effective from March 20 through September 20 of this year.
The ban covers the export from Russia of the scrap of metals clad with precious metals, and other types of waste and scrap containing precious metals or precious metal compounds. This measure also provides for the suspension of the export of waste and scrap of electrical and electronic items that are used to recover precious metals from waste and which are important for the domestic market.
The resolution is expected to increase the workload at Russian precious metal refining plants and boost tax revenues. In addition, it will help cut down on illegal foreign trade involving precious metal exports.