Russia, Kazakstan, Belarus Scrap 5% Import Duty on Coking Coal

Russia, Belarus and Kazakhstan agreed to scrap a 5 percent import duty on coking coal, the Customs Union Commission, which oversees tariffs for the three partners, said on its website today.

OAO Novolipetsk Steel, which doesn’t have its own coking coal, asked the government earlier this year to annul the duty, citing domestic shortage of certain types of coal for steelmaking. Novolipetsk is owned by billionaire Vladimir Lisin, Russia’s richest man.