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Russia May Tax Copper Rods to Close Loophole, Interfax Reports

Russia may introduce an export duty on copper rods after producers began shipping the rods to avoid a regular copper levy, Interfax reported, citing Vitaly Gudkov, an official at the Economy Ministry.

The rods may be taxed at 7.5 percent of customs value, compared with 10 percent for copper, according to the Moscow- based newswire.

To contact the reporter on this story: Ilya Khrennikov in Moscow at ikhrennikov@bloomberg.net

To contact the editor responsible for this story: John Viljoen at jviljoen@bloomberg.net

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