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Ukrainian stone will no longer be exported for a pittance: Zelensky signed a law on export duty
Volodymyr Zelensky signed a law on an export duty for unprocessed Ukrainian natural stone. The extractive industry has been waiting for this decision for many years. The export rate will now be 300 euros per ton and will apply for 10 years.
The new rules apply, in particular, to granite, labradorite, and gabbro. For years Ukraine exported valuable raw materials for a pittance, while the profits from their processing stayed abroad.
“Our task today is to move away from a raw-materials model toward creating products with high added value, new manufacturing, and jobs inside the country,” say representatives of the National Association of the Extractive Industry.
The new duty will bring nearly half a billion hryvnias to the state budget each year.
Previously a square meter of Ukrainian labradorite was sold abroad for $10. After processing, that same stone cost about $950 per square meter on the world market.
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