Foreign media news on 31 October; local time on 31 October, the Russian government issued an announcement that the export of scrap precious metals from Russia between 1 November 2023 and 30 April 2024 is prohibited.
The announcement said that during the period of the ban, scrap metal clad with precious metals, other waste and scrap containing precious metals or precious metal compounds may not be exported from Russia. The export of waste and scrap of electrical and electronic products used for the extraction of precious metals will also be suspended.
The announcement said the decision will help increase the utilisation rate of Russian refineries and increase tax revenues, in addition to helping to reduce illegal foreign trade activities involving the export of precious metals. The Russian government had previously issued the same ban from 20 March to 20 September 2023, it said.
