OREANDA-NEWS Russia has established flexible duties on the export of goods. They will begin to operate from October 1, 2023, the rate of collection from the export of goods abroad will depend on the exchange rate of the national currency, the press service of the government reports.

The measure is temporary and is aimed at protecting the domestic market. Duties on a wide range of goods will be in effect until the end of 2024. Their size will be up to 10 percent for fertilizers and from 4 to 7 percent for other goods. At 80 rubles per dollar and below, the duties will be zero.

"Regulation is applied in order to maintain a rational ratio of export of goods and domestic consumption. The decision taken will help protect the domestic market from unjustified price increases," the report says.

Analysts believe that the new duties will help to return the ruble exchange rate to a comfortable level for companies and the population. According to Leonid Khazanov, an independent expert in the field of industry and energy, the state has every right to introduce fees for the export of coal and metals, "given how their producers are doing well."

A number of experts believe that the measure will increase the burden on Russian business and reduce the attractiveness of investments. The appearance of new fees or other tax payments makes it more difficult for businesses to predict their income. At the same time, additional tax payments will not have a direct impact on the supply and demand ratio on the stock exchange, said Freedom Finance Global analyst Vladimir Chernov.