Russia to Impose Export Duties Linked to Ruble Rate From Oct. 1

Russian government introduces flexible export duties linked to ruble exchange rate, according to statement on Telegram.

• Export duties will be effective until end of 2024
• Export duty will be in range of 4% to 7%
  • No duty will be imposed if the ruble is at or below 80 per dollar
• For fertilizers, the duty will be as much as 10% depending on ruble
• NOTE: Russia Takes Aim at Exporters With New Tax Targeting Windfall

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