The Ministry of Finance of the Russian Federation has proposed to introduce a temporary ban on the export of precious metal scrap from Russia. The draft resolution "On the introduction of a temporary ban on the export from the Russian Federation of waste and scrap of precious metals or metals clad with precious metals, other waste and scrap containing precious metal or precious metal compounds used mainly for the extraction of precious metals" is posted on the portal of regulatory legal acts.
The explanatory note to the document notes that precious metals are "the most important type of military-strategic and industrial raw materials, without which the functioning of enterprises of the military-industrial complex, electronics, civil aircraft, the automotive, petrochemical, jewelry industry and many other branches of the national farms ".
Restrictions can be introduced from January 1, 2022 to June 30, 2022. The ministry notes that today there are not enough sources of raw materials on the Russian precious metals market to fully utilize the production capacities of domestic processing enterprises.