Russia faces battle on oil taxes as crude declines

Note: This section contains information in English only.
Source: Bloomberg
Russia, where the largest part of state revenue consists of energy production, is preparing to face a battle against oil producers on the taxation of the nation's most vital industry. There were 6.75 trillion rubles of taxes from crude and petroleum products last year. However, the Economy Ministry works on an average crude price of $50 per barrel, as Russia rethinks this year's budget.
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