FT Syndication Service
MOSCOW: Russia's government took its first steps late last month towards $4.0bn of tax cuts to boost investment in the oil industry, amid warnings the country's output could fall for the first time in 10 years.
Vladimir Putin, the prime minister, told a cabinet session the proposed cuts to the mineral extraction tax would be fast-tracked for parliamentary review later in order to increase oil production and boost refining.
The measures would allow oil companies to save up to $4.0bn (
Putin quickens tax cuts to revive oil flow
Catherine Belton | Published: June 04, 2008 00:00:00 | Updated: February 01, 2018 00:00:00
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