Finance

Russian oil producers face major tax hike to help replace revenues lost by sanctions

Government wants companies to pay higher taxes as Urals blend suffers steep discounts

New tax: Russian President Vladimir Putin (left) and Deputy Prime Minister Alexander Novak.
New tax: Russian President Vladimir Putin (left) and Deputy Prime Minister Alexander Novak.Photo: AP/SCANPIX
  • Vladimir Afanasiev
RussiaUkraine CrisisVladimir PutinAlexander NovakAsia & Oceania
Published 15 February 2023, 03:00Updated 15 February 2023, 11:47