The Russian government has announced that it has reintroduced the duties related to the ruble-US dollar exchange rate on coal exports, effective between March 1, 2024 and February 28, 2025.
The duties are between four percent and seven percent depending on the ruble-dollar exchange rate. The duty will be automatically nullified if the ruble reaches 80 to the dollar.
In January this year, the Russian government terminated the duties on coal exports which had been introduced in October 2023 with the aim to protect the local market from increases in prices and to support Russian coal producers, as SteelOrbis previously reported.