Alexey Mordashov believes that export duties can harm Russian companies

Mordashov noted that such a mechanism could subsequently have a negative impact on domestic companies, whose products are mainly focused on world markets, and called on the Russian authorities to refrain from such risky decisions.

Mordashov emphasized that export duties are a powerful tool for limiting exports, and although the need to replenish the budget is clear, he called for avoiding overly risky steps.

From October 1, Russia introduced a mechanism of flexible export duties on a wide range of goods. Under this mechanism, companies are required to pay duties of up to 7%, depending on the current dollar exchange rate. The Central Bank considers this mechanism as one of the factors contributing to the stabilization of the national currency.