Moscow-Russia’s government has approved two excise tax increases on gasoline and die- sel in 2018 to ensure higher budget revenues, Russia’s finance minister Anton Siluanov said Monday, a move which could drag on Russian refining margins. The government plans to raise the excise tax by Rb0.5 ($0.008) per liter on January 1 and on July 1, above the previously expected tax growth in line with inflation, Siluanov said following a government meeting, according to a transcript on the government website.
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