July 23, 2010 / 4:58 PM / 10 years ago

Russia to keep protectionist measures in steel

CHELYABINSK, Russia, July 23 (Reuters) - Russia’s Economy Ministry said on Friday it saw no need to lift protectionist measures in the steel industry despite such calls from other sectors, including the country’s pipeline monopoly.

“We think it is premature to change anything in protectionist duties,” Deputy Economy Minister Andrei Klepach told a meeting on the steel industry chaired by Prime Minister Vladimir Putin.

The comment came after the head of the country’s pipeline monopoly Transneft, Nikolai Tokarev, called on Putin to raise taxes on the steel industry and lower import duties on pipes, and Putin asked Klepach to comment on the idea.

Reporting by Gleb Bryanski, writing by Dmitry Zhdannikov, Editing by John Bowker

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