Russian oil firms could face a further increase in their tax burden next year, if a finance ministry proposal to raise mineral extraction tax (MET) beyond the hike already expected gains Kremlin support. Raising MET is being discussed as a way to generate more revenue for the budget, which faces a growing deficit next year. Also under consideration is an extension of the duration of a 37pc MET hike for statecontrolled gas firm Gazprom, introduced in 2015 and expiring at the end of this year.
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