The Russian government will impose tariffs on ferrous and non-ferrous metal exports. As the prices of Russian metal products continue to rise, imposing tariffs is a temporary and loosest measure to protect the domestic market. Denis Manturov, head of the Ministry of Industry and Trade, said at a government meeting that it is necessary to prevent price increases. The Ministry of Economic Development (MED) proposes to impose temporary export duties on ferrous and non-ferrous metals from August 1 to December 31. The tariff will include a basic rate of 15% and a specific rate. Specific export tariffs: US$1,226 per ton for copper, US$2,321 per ton for nickel, and US$254 per ton for aluminum. The rate is calculated based on the average metal price of the past five months. This tariff is only applicable to metal exports outside the Eurasian Economic Union (EAEU), which may have an impact on domestic imports.