Putin Directs Cabinet of Ministers to Consider Export Duty Cuts for Certain Fish Products

According to instructions listed on the official Kremlin website, Russian President Vladimir Putin has directed the Cabinet of Ministers to evaluate the reduction of export duties on certain fish products and to compile a report on the advancement of educational programs in the fisheries sector.

The President has tasked the Cabinet of Ministers with submitting a report by August 1, 2024, on the advisability of reducing export customs duties on certain types of food-producing fish products, provided these are sufficiently available on the domestic market.

Besides that, a comprehensive report on the development of educational institutions specializing in fisheries and aquaculture (fish farming) training must be prepared by the same date.

Since October 2023, Russia has implemented variable export duties on certain commodities, ranging from 4% to 7% based on the ruble’s exchange rate. In March 2024, the sector-specific commission of the Russian Union of Industrialists and Entrepreneurs articulated the industry’s stance on legislative amendments, proposing the elimination of export duties for certain fish product categories, including Alaska pollok, cod, frozen sardine, and deep-sea crab.