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FinMin Proposes New Levy on Exporters When USDRUB Weakens

RUSSIA
  • Russia plans a new tax on exporters to soak up excess revenue companies reap when the ruble depreciates past a certain level and support its strained wartime budget, Bloomberg report.
  • The Finance Ministry is proposing a levy on exporters that kicks in once the ruble weakens past 80 per US dollar, four people familiar with situation said, declining to be identified as the decision isn’t final.
  • Oil, gas, grain and some other goods would be excluded under the plan, leaving industries like metal and mining to shoulder the biggest burden.

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