The authorities will exempt consignments of goods up to 200 euros and duty free from exchange rate duties

In Russia, goods cheaper than 200 euros (approximately 20 thousand rubles – the Central Bank exchange rate as of November 11), products for personal use, as well as some products from duty free stores, are planned not to be subject to duties tied to the ruble exchange rate. This decision was approved by the government commission for economic development.

“It plans to remove goods consignments cheaper than 200 euros, personal goods and some duty free goods from export duties, which are tied to the ruble exchange rate. The authorities also want to extend export quotas for nitrogen and complex fertilizers until the end of May next year,” RBC reports, citing the commission’s decision.

The corresponding protocol was signed by First Deputy Prime Minister Andrei Belousov. The Ministry of Industry and Trade confirmed that they are familiar with the initiative.

In the Russian Federation, exchange rates adopted by the government began to be applied on October 1. They will be valid until the end of 2024. Now the duty is 4-7% and is applied at an exchange rate of 80 rubles per dollar.

In September, the Cabinet of Ministers decided to extend the duty-free import limit of 1,000 euros for individuals. This information is contained in a document that was prepared for the draft federal budget for the next year. Later, Russian Finance Minister Anton Siluanov announced the strengthening of the ruble exchange rate. After stabilization, Kursk will remain within the current limits, he noted, reports “National News Service“