Moscow—Russian authorities are considering amending the country’s oil taxation system to capture windfalls from the ruble’s devaluation being enjoyed by most producers in a move that has sparked warnings over future output. A proposal raised by the finance ministry to raise mineral extraction tax for oil producers is the first indication that the government intends to increase the taxation burden on Russian oil producers, who have so far been insulated from the full blow of low oil prices and the economic downturn due to the ruble’s slide against the dollar.
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