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Markets Print edition: 2021-08-01

Russia mulls pegging tax on mining firms

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MOSCOW: Russia is considering pegging a mineral extraction tax (MET) levied on its metals producers to the global price of their products from 2022, the Interfax news agency reported on Friday, citing Deputy Finance Minister Alexei Sazanov.

Moscow has been trying to protect its defence and construction industries from further growth in raw materials costs as metals prices rise at a global level.