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Russia considers higher customs duty on optical fibre from US
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Russia considers higher customs duty on optical fibre from US

Russia : The Russian government plans to raise customs duty on optical fibre produced in the US, reports Comnews.ru. The customs duty will total 30 percent if the draft document is approved. It is currently at 3 percent. Analysts believe that the decision will lift prices for fibre-optic cable by a similar percentage.

The draft document was prepared by the Ministry of Economic Development. Optical fibre has been included into a list of other goods produced in the US on which tariffs will be placed to protect Russian producers.

Russian company Fibre Optical Systems, a subsidiary of Rosnano, is the only producer of optical fibre across the country. US-based company Corning currently dominates the Russian optic fibre market, with a market share of 60-70 percent.