Russia has banned the export of precious metal scrap for six months
From February 1, 2022, for six months, a ban on the export of precious metal scrap from the country is introduced in Russia. This is stated in the decree of the Cabinet of Ministers of the Russian Federation.
"To establish from February 1, 2022 to July 31, 2022 inclusively, 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 compounds of precious metals, used mainly for the extraction of precious metals, with the exception of cathode antimony in ingots, as well as waste and scrap of electrical and electronic products used mainly for the extraction of precious metals, which are essential for the domestic market of the Russian Federation, "- said in the resolution.
Earlier, Deputy Minister of Industry and Trade of the Russian Federation Viktor Yevtukhov said that this measure should help increase the volume of circulating metal in production and increase the capacity utilization of domestic refineries that purify the extracted precious metals from impurities. It was also noted that the temporary ban should have a beneficial effect on the cost of services provided by refineries.