The Russian government has introduced ban on the export of scrap

The restriction will be in effect from November 1 to April 30, 2024 inclusive.

It is clarified that previously the corresponding ban was in effect from March 20 to September 20, 2023.

For the duration of the restrictions, scrap metal clad with precious metals, other waste and scrap containing precious metal or compounds of precious metals will not be exported from Russia. The export of waste and scrap electrical and electronic products used to extract precious metals that are important for the country’s domestic market will also be suspended.

The decision will increase the workload of Russian refineries and increase tax revenues. In addition, it will help reduce illegal foreign trade operations related to the export of precious metals.