Moscow—The Russian government has decided against raising the mineral extraction tax for crude oil and will look at other ways to boost revenue for the state budget following fierce criticism over the proposal from key oil producers and government officials. Following a government meeting Monday, Prime Minister Dmitry Medvedev decided not to change the country’s mineral extraction tax (MET) for crude oil, and will instead consider reducing the export duty for crude at a slower pace than previously envisaged, as well as changing the export duty for gas, among other measures, according to local media reports, citing Medvedev’s spokeswoman.
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