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| Version 1 | Version 2 |
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| Moscow to raise tax on metal mining firms in 2022 to tackle raw material shortage – Putin | Moscow to raise tax on metal mining firms in 2022 to tackle raw material shortage – Putin |
| (2 months later) | |
| Russian authorities will raise a mineral extraction tax (MET) on metals producers next year to tackle shortages of metal produce in the domestic market, President Vladimir Putin said. | Russian authorities will raise a mineral extraction tax (MET) on metals producers next year to tackle shortages of metal produce in the domestic market, President Vladimir Putin said. |
| “Starting from the next year, from January 1, I think, new higher taxes on mineral extraction will be imposed. This concerns the metals industry,” Putin said during a meeting with construction workers. | “Starting from the next year, from January 1, I think, new higher taxes on mineral extraction will be imposed. This concerns the metals industry,” Putin said during a meeting with construction workers. |
| He added that the shortage of raw materials has been caused by a worldwide spike in the price of metals. | He added that the shortage of raw materials has been caused by a worldwide spike in the price of metals. |
| Earlier this month, Deputy Finance Minister Aleksey Sazanov said that the Kremlin was considering a proposal to peg an MET levied on metals producers to the global price of their products from 2022. | Earlier this month, Deputy Finance Minister Aleksey Sazanov said that the Kremlin was considering a proposal to peg an MET levied on metals producers to the global price of their products from 2022. |
| The idea to withdraw excess profits from metal-mining firms was first introduced in July, and followed the government’s decision to impose temporary export tariffs on sales of ferrous and non-ferrous metals such as copper, nickel, aluminum, and metal products. The tariffs came into force on August 1, and will remain in effect until the end of the current year. | The idea to withdraw excess profits from metal-mining firms was first introduced in July, and followed the government’s decision to impose temporary export tariffs on sales of ferrous and non-ferrous metals such as copper, nickel, aluminum, and metal products. The tariffs came into force on August 1, and will remain in effect until the end of the current year. |
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