Russia imposes temporary ban on recovered paper exports

MOSCOW (Scrap Monster): Russia has imposed a temporary ban on exports of recovered paper. The proposal to ban the exports was approved by Russia’s Ministry for Economic Development. The announcement comes in the wake of reports that domestic supply of recovered paper in the country has witnessed sharp fall during recent times. The Ministry’s decision is expected to improve domestic supply of the material and boost domestic converting of recovered paper.

According to the official statement issued by the Ministry, the decision was one among many decisions taken by the government to stimulate economic growth in the country. It expressed the hope that the decision will bring significant boost to domestic market conditions.

The Ministry also noted that the import duty on offset paper, calendered paper and coated paper will be reduced to 5%. This will aid the domestic magazine and book publishers, it noted. Additionally, the import duty on composite cartons will also be reduced to 5%. Also, the Ministry has announced that import duty on black ink has been waived off for a limited period.

The announcement by the Ministry is aimed at lending a helping hand to country’s struggling industries, by helping Russian companies in reducing their operation costs.