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The Cabinet of Ministers has banned the export of scrap precious metals from the country

The Cabinet of Ministers has banned the export of scrap precious metals from the country

A ban on the export of scrap precious metals from Russia has been imposed for six months from February 1, 2022. Such a decree was published on the website of the Russian government.

"To establish from February 1 to July 31, 2022, inclusive, a temporary ban on the export from the Russian Federation of waste and scrap of precious metals or metals plated 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 bullion, and waste and scrap of electrical and electronic products used mainly for the extraction of precious metals, which are essential for domestic p

The Cabinet of Ministers explained that the reason for this decision was a shortage of raw materials containing precious metals, which leads to higher prices for finished products.

In Russia, consumers of raw materials containing precious metals are refineries which purify extracted precious metals from impurities and related chemical elements.

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Author: Maria Buzanakova

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