Russia seeks to raise taxes on oil and gas

23 September, 2022
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Russia seeks to raise taxes on oil and gas

Russian Finance Minister Anton Siluanov said that the new Russian budget draft aims to get more money from oil and gas producers as commodity prices rise, as part of the government's efforts to tackle its budget deficit.


 The main proposals of the new budget include increasing export duties on pipeline gas exports as well as taxes on liquefied natural gas and introducing fees for fertilizer and coal exports, Siluanov said at a televised government meeting.


On Tuesday, Kommersant daily quoted sources familiar with the discussions as saying that Russia is considering raising taxes on the oil and gas sector by three trillion rubles ($50 billion) between 2023 and 2025.


The government said it had approved a draft law for the budget for 2023 and for the period 2024-2025, without giving any details.


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