US EditionReuters: Russia and China trade new copper disguised as scrap to skirt taxes, sanctions
- China is disguising Russian copper wire as scrap metal to avoid taxes and sanctions.
- Copper scrap imports from Russia to China have significantly increased since December.
- Russia's Federal Customs Service stopped publishing trade data after invading Ukraine.
12 Articles
12 Articles
Russia and China trade new copper disguised as scrap to skirt taxes, sanctions
Copper wire rod was shredded in the remote Xinjiang Uyghur region by an intermediary to make it hard to distinguish from scrap, the sources said, allowing both exporters and importers to profit from differences in tariffs applied to scrap and new metal, the sources said.
Russia and China Evade Sanctions by Trading Copper Disguised as Scrap
Russia has been exporting newly-made copper rod to China disguised as copper scrap in recent months—a new trade avenue for the two regimes that has been evading Western sanctions on Russian copper and export and import duties in both countries, Reuters reported on Monday, citing sources with knowledge of the matter and its own analysis on customs data. Russian Copper Company (RCC), designated by the U.S. and UK, has been engaged in these types o…
China Disguising Imported Russian Copper as Scrap to Avoid Sanctions – Reuters
China has begun disguising imported Russian copper wire as scrap metal to avoid taxes and the impacts of Western sanctions, Reuters reported Monday, citing customs data and anonymous sources familiar with the matter.
The Straits Times
Russia and China trade new copper disguised as scrap to skirt taxes, sanctions
Russian Copper Company (RCC) and Chinese firms have avoided taxes and skirted the impact of Western sanctions by trading in new copper wire rod disguised as scrap, three sources familiar with the matter told Reuters. Read more at straitstimes.com.
Russian copper companies and Chinese firms have found a way to bypass Western sanctions in mutual trade: they trade in new copper wire, disguising it as scrap metal, which also allows them to avoid paying taxes, writes Reuters citing its own sources.
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- 38% of the sources lean Left, 38% of the sources are Center
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