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Eurasian Economic Commission’s decision on 0% vanadium-aluminium import duty to enter into force

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Eurasian Economic Commission’s decision on 0% vanadium-aluminium import duty to enter into force

Photo: Eurasian Economic Commission

The Eurasian Economic Council (EEC)—which includes Russia and Kazakhstan—will institute an extension of its 0% import customs duty on vanadium-aluminum ligature until the end of 2022, beginning today.

This extension seeks to keep prices for this type of raw material—primarily used in the production of titanium alloys for the aerospace industry—as low as possible. By reducing the costs of materials, majority Russian-owned aerospace companies will be able to increase their output for comparatively lower costs.

This development comes at a key point for Russian aerospace interests as two key projects enter their early stages. First, Russia’s Aerospace Force is expected to commission a new combat aircraft in 2022 equipped with state-of-the-art hypersonic weaponry. Second, Russia and China have announced that they will sign a new Space Cooperation Program for 2022-2027, which will include plans to build and launch an International Lunar Research Station by 2035.

Both programs allow Russia to edge closer to the forefront of air and space power, two key domains in the international political sphere where tensions with the US and NATO are already building. By ensuring low material costs, Russia is better poised to make these goals a reality, cementing itself at the forefront of international aerospace innovation.

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REUTERS/Florence Lo/File Photo

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