Russia and China trade new copper disguised as scrap to skirt taxes, sanctions | Reuters News Agency
Business & FinanceCommodities

Russia and China trade new copper disguised as scrap to skirt taxes, sanctions

15 April 2024, 5:49 am 1 minute
By Reuters News Agency

Reuters exclusively reported that Russian copper producer RCC and Chinese firms have avoided taxes and skirted the impact of Western sanctions by trading in new copper wire rod disguised as scrap.

Market Impact

China has become a major destination for Russian companies seeking to export their commodities after the United States imposed sanctions on Russia for its invasion of Ukraine in February 2022.



Article Tags
Topics of Interest: Business & FinanceCommodities
Type: Reuters Best
Sectors: Business & FinanceCommodities & Energy
Regions: AsiaEurope
Countries: ChinaRussia
Win Types: Exclusivity
Story Types: Exclusive / Scoop
Media Types: Text
Customer Impact: Important Regional Story
FILE PHOTO: Trucks carrying copper and other goods are seen waiting to enter an area of the Shanghai Free Trade Zone, in Shanghai September 24, 2014. REUTERS/Carlos Barria/File Photo
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