Russia To Receive $10 Billion In Tax Revenue From Local Oil Firms

Due to Russia’s taxation system, the Russian budget will receive up to US$10 billion more from local oil firms in 2020, Deputy Finance Minister Alexey Sazanov told Reuters in an interview published on Monday.   Russia’s economy is struggling this year because of the measures to contain the coronavirus pandemic and the plunge in oil prices, which is reducing the budget revenues from Moscow’s principal export, oil.   While it would lose revenues from lower crude oil sales and lower oil prices, the Russian budget…