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

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


Business & FinanceCommodities

15 April 2024, 5:49 am 1 minute

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



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