Russian Ministries reject proposed windfall tax on metals and mining firms

22nd August 2018 By: Reuters

Russian Ministries reject proposed windfall tax on metals and mining firms

KUBINKA – Russian government Ministries have agreed that a proposed windfall tax on metals, mining and chemical companies was inappropriate, Industry Minister Denis Manturov said on Wednesday.

"With colleagues from other Ministries, we reached a common position that as of today it's inappropriate," he told reporters on the sidelines of a military forum outside Moscow.

The proposal, put forward by Kremlin economic aide Andrei Belousov this month, listed Evraz, NLMK, Nornickel, Severstal, MMK, Mechel, Alrosa, Polyus, Phosagro and Acron as among the targeted companies.