- Russia will squeeze oil and gas producers for additional funds by assessing higher taxes.
- Russia’s draft plan is to increase taxes on oil and gas companies by 3 trillion rubles, or $50 billion, starting in 2023 and running through 2025.
- The key tax hike proposals for the budget include increased export duties on the country’s pipeline gas exports, higher taxes on LNG, new export duties on coal, increasing the mineral extraction tax for oil, and keeping the damping fuel tax mechanisms.
Russia To Set Higher Oil, Gas Taxes To Plug Budget Deficit
