Support The Moscow Times!

Duma Gives Tatneft a Break

The State Duma on Thursday voted in favor of tax breaks worth $1.2 billion over a six-year period for Tatneft. 

Legislators voted in favor of the tax breaks after a new tax regime started from Oct. 1, cutting crude oil export duty and raising the fee for heavy oil products. 

The motion was carried out despite the government's decision to postpone tax breaks for Tatneft, which faced losses of more than $1 billion from the new tax policy. Tatneft invested more than 180 billion rubles ($5.86 billion) in refinery construction, and half of its output, or 7 million tons, will be heavy oil products.


Read more

We need your help now more than ever.

Independent media outlets and journalists in Russia are being increasingly targeted with “foreign agent” and “undesirable” labels, threatening the existence of the free press day by day.

Your donation to The Moscow Times directly supports the last independent English-language news source within Russia.