this post was submitted on 15 Apr 2024
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Russia and China trade new copper disguised as scrap to skirt taxes, sanctions (kelo.com)
submitted 1 year ago by 0x815@feddit.de to c/china@sopuli.xyz
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Cross posted from: https://feddit.de/post/11109618

Russian Copper Company (RCC) and Chinese firms have avoided taxes and skirted the impact of Western sanctions by trading in new copper wire rod disguised as scrap, three sources familiar with the matter told Reuters.

Copper wire rod was shredded in the remote Xinjiang Uygur region by an intermediary to make it hard to distinguish from scrap, the sources said, allowing both exporters and importers to profit from differences in tariffs applied to scrap and new metal, the sources said.

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