On April 28, local time, the Russian government said it decided to cancel the export tariffs on thermal coal and anthracite from May 1 to August 31 this year. The decision is aimed at supporting domestic coal industry enterprises.
The Russian government has implemented flexible export tariffs on coal since March 1, and the tariff rate is linked to the ruble exchange rate. Depending on the ruble exchange rate, the tax rate ranges from 4% to 7%. If the ruble-to-dollar exchange rate is lower than 80 to 1, the tariff is 0. Currently, the ruble-to-dollar exchange rate is about 92 to 1. (CCTV reporter Song Yao)
WHC Price at posting:
$7.62 Sentiment: Hold Disclosure: Not Held
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