India intends to introduce 20% antidumping duties on Russian steel

The Government of India intends to introduce antidumping duties on imports of steel products in the amount of 20% of their customs value. Metallurgical companies of Russia, China, Japan and South Korea will fall under the sanctions. Currently, the draft document is held formal discussions in departments of the Indian Ministry of Finance, after which are likely to be adopted at the Cabinet meeting.

New duties will be the third step of the Indian authorities to protect domestic producers since July this year. However, previously the Government introduced slight increase in the import duties on a narrow range of rolled metal.

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