Russia expands list of activities subject to customs privileges

The list of priority activities for which it can import technological equipment, components, raw materials, and materials into the country without paying customs duties has been replenished with new positions. Russian Prime Minister Mikhail Mishustin signed the corresponding decree.

“This measure will additionally support enterprises of significant sectors of the economy,” the government’s press service said in a statement.

The updated list includes the extraction of coal, peat, metal ores, decorative and building stone, limestone, gypsum, chalk, and shale, the development of gravel and sand pits, and the provision of electricity, gas, and steam, as well as air conditioning.

The Russian government, in May 2022, determined the procedure for applying customs exemptions for importing equipment, raw materials, and materials for implementing investment projects in sectors critical to the economy. Also, it published a list of priority activities subject to such benefits. This decision was made to ensure the development of the Russian economy in the face of external restrictions.

Author: Galina Bakhshieva