The Russian government stated that if Russian steel companies produce liquid steel for their own needs, they will be exempt from the liquid steel excise tax. The decision will also affect companies with an annual output of no more than 300,000 tons of special steel with an alloying element content of at least 20%.

The list of companies exempt from excise tax will be approved by the Ministry of Industry and Trade shortly.

Russian authorities set the excise tax rate for liquid steel at 2.7% from 2022 and a mineral extraction tax (MET) of 4.8% and 1.5% on iron ore and coking coal, respectively.