A bill relating to the export of Russian platinum group metals has been passed by the Russian State Duma, it has been revealed.

According to Interfax.com, the bill was passed at the first attempt yesterday (October 15th) and as such will be written into law in around four months' time.

The passing of the bill heralds the end of state control of platinum group metal exports, which had been co-ordinated through the use of state company Almazyuvelirexport.

However, Itar-Tass, the official Russian news agency, quoted the government as saying that the practice "runs counter to Russia's antitrust laws and is excessive in the conditions of Russia's forthcoming accession to the World Trade Organisation".

As such, Almazyuvelirexport's role will be limited and run more on market principles than it has in the past.

The demise of Almazyuvelirexport had been on the cards since the Economic Development and Trade Ministry, Finance Ministry and Central Bank all backed plans to end the state monopoly of platinum group metal exports in 2005.
Source:

Russian Duma passes bill to scrap PGM export monopoly at first reading, 15/10/08


Source:
http://www.interfax.com/3/436636/news.aspx
Duma to hear platinum export bill, 15/10/08
http://www.platinum.matthey.com/media_room/duma_to_hear_platinum_export_bill_18827403.html