RUSSIA, December 29 - The Government approved a decision to exclude certain types of high-value added goods that depend on imports of key components, as well as co-products for manufacturing, from the export duties tied to the rouble exchange rate. The relevant resolution has been signed.

These duties will not be levied on medicines and pharmaceutical substances, chemical products, household metal products, tools for drilling, pressing and other operations, marshmallows, soy protein concentrate, beet pulp, and certain types of coal products.

At the same time, in order to support SMEs, the Government decided to exempt so-called low-value goods with a total customs value below 200 euros from these duties.

Flexible export duties are a temporary measure designed to protect the domestic market, which will remain in force from 1 October 2023 until the end of 2024. The duties will range from 4 percent to 7 percent depending on the national currency exchange rate. If the exchange rate drops to 80 roubles per dollar or lower, the duty will be nullified.