Russia's import duties imposed on US estimated at $93 million

Russia's import duties imposed on US estimated at $93 million

Russia's import duties on U.S. goods on the first stage are estimated at $93 million, the Russian Ministry of Economic Development said.

Russian Economic Development Minister Maxim Oreshkin said yesterday that soon Russia will impose new import duties on U.S. goods that are not produced locally in retaliation for U.S. steel and aluminum duties.

"These measures consisting of additional import duties on U.S. goods will start to be applied soon. They will cover only the products which have analogues on the Russian market and will not hurt the macroeconomic figures," Interfax cited the minister as saying.

Oreshkin said that the Economic Development Ministry will list the goods subject to duties in several days.

The U.S. slapped steel and aluminum import duties at the end of March; Russia said in a document sent to the World Trade Organization (WTO) that it had plans to introduce U.S. $537.6 million duties on U.S. goods amounting to $3.16 billion.

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