OREANDA-NEWS   Export duties on coal, which were planned to be introduced at the beginning of next year, have been postponed for the time being. The Ministry of Finance intends to monitor the situation on the markets in the first quarter and then make a decision. In the last two months, officials have been talking about low chances to raise funds due to the coal duty, since its prices have fallen below the cut-off prices laid down in the duty formula. Nevertheless, now in some areas the cost of coal exceeds these prices.

The government has abandoned the idea of introducing export duties on energy and coking coal from the beginning of 2023, but will continue to monitor market conditions in the first quarter of the year, Interfax reports, citing Deputy Finance Minister Alexei Sazanov. "We decided that the MET was enough," the news agency quoted him as saying.

It was assumed that the duty would be levied if the FOB price exceeded $150 per ton of thermal coal and $170 per ton of coking coal. The duty rate in all cases was assumed to be 40%. In addition, export duties on fertilizers are also planned. In 2023, according to the draft budget, the government planned to receive a total of 135.6 billion rubles from these duties.