Russia May Tie Gazprom Extraction Tax to Prices, Kommersant Says

The Russian government may link OAO Gazprom’s mineral extraction tax rate to gas prices, Kommersant reported, citing Finance Minister Anton Siluanov.

If the plan is adopted, the state will get as much as 80 percent of Gazprom’s additional income from rising prices, starting from July, 2013; that could mean 50 billion rubles ($1.7 billion) of extra tax revenue in the second half of next year, the newspaper said.

To contact the reporter on this story: Yuliya Fedorinova in Moscow at yfedorinova@bloomberg.net

To contact the editor responsible for this story: John Viljoen at jviljoen@bloomberg.net