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Russian ministries agree to reduce fuel tax, raise extraction tax for oil firms
April 21, 2021
Source: Energyworld

Russian ministries agree to reduce fuel tax, raise extraction tax for oil firms

MOSCOW: Russia's energy and finance ministries have agreed to reduce fuel tax from May 1, cutting 350 billion roubles ($4.5 billion) from the state budget in 2021-2023, they said on Tuesday.The finance ministry said earlier in April that Russia planned to tackle rising fuel costs by changing taxes and paying more compensation to companies for holding down prices.

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