The European Union is to abolish the 22.7% duty imposed on silicon exports that is currently applied to the concerns that form United Company Russian Aluminum (UC RusAl). As the European Commission said in a statement, the antidumping duty imposed in 2003 against Sual Silicon Urals and Kremniy (that made up Sual Group at that time) is to be cancelled on the basis of a ruling issued on March 14, 2007 by a court of common jurisdiction that found the export duty as invalid. Now EU countries should return cash paid since the time when the export duty was imposed to Suals European importer, Aluminum Silicon Mill Products GmbH (Zug, Switzerland). At this juncture, Russian suppliers will be automatically released from the obligation to deliver products at the price below a specific threshold that was determined to avoid the effect of protective measures.
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[Source: Russian Stock Market Blog]
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