The Russian government has decided to temporarily impose import duties of zero and ten percent on certain types of steel processing equipment for a period of nine months. The decision No. 1084 becomes effective starting from January 14, 2009.
Accordingly, zero percent import duty is introduced for equipment under HS Codes 8462 31 000 1 and 8462 41 100 2.
Meanwhile, the government has decided that steel processing equipments under HS Codes 8462 31 000 9 and 8462 41 100 8 will be imported subject to a ten percent duty.
The decision was taken in order to support domestic steel producers affected by the financial crisis, to help them complete their equipment upgrades in 2009.