01:05 GMT +317 December 2018
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    Russia sets import duties on Ukrainian reinforcing strips

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    MOSCOW, December 26 (RIA Novosti) - Russian Prime Minister Mikhail Fradkov signed a resolution levying import duties on Ukrainian reinforcing strips for ferroconcrete construction at 21% of their customs value, the government's press office said Monday.

    The resolution stipulates that the new compensatory duty on the reinforcing strips imported from Ukraine will be introduced to protect domestic producers and will be in effect until August 14, 2007.

    The resolution will come into effect one month after its official publishing.

    Russia introduced a 21% compensatory import duty on Ukrainian steel strips in August 2002 for 3 years because Ukraine subsidized its metals plants, creating unfair competition on the Russian market.

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