Russia Oil Tax Move May Require Compensation

- July 8th, 2011

Bloomberg reports that according to Russian Finance Minister Alexei Kudrin, nation’s plan to restructure taxes on crude oil and refined oil products may require compensation for some companies.

Bloomberg reports that according to Russian Finance Minister Alexei Kudrin, nation’s plan to restructure taxes on crude oil and refined oil products may require compensation for some companies.

The market news is quoted as saying:

Russia, which exports more crude and heavy fuel than high-grade products, is seeking to revise taxes to spur output and bolster state revenue as global oil prices climb.

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