The Council of the Eurasian Economic Commission at a meeting on Tuesday, October 5, approved a draft action plan to provide raw materials for metallurgical enterprises of the Eurasian Economic Union (EAEU).
“The document is planned to be signed during the next meeting of the Eurasian Intergovernmental Council in November 2021. The plan provides for a whole range of measures aimed at approximating the regulation of the supply of raw materials and ensuring their uninterrupted supply within the union, "the press service of the Ministry of Economic Development of the Russian Federation reports.
According to Interfax, the project involves the study of removing restrictions on the access of consumer enterprises to scrap and waste of ferrous and non-ferrous metals in the EAEU internal market and allows countries to apply export restrictions (for example, such as in the Russian Federation - the export duty scrap in the amount of up to 5%, but not less than 70 euros per ton).
“From January 2022, the EAEU countries are expected to start working on the issue of licensing the collection and disposal of ferrous and non-ferrous scrap in order to prevent damage to the environment. To stimulate scrap procurement, the EAEU countries are also invited to work out issues of tax incentives for suppliers of recyclable materials. It is planned to create new sources of scrap, including through the recycling of old vehicles, ”the message says.