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Slovakia Explores Russian Crude Processing Tax

OIL

The Slovakian Finance Minister Igor Matovic has proposed a special tax on Russian crude refined in the country to generate revenue for the states anti-inflation measures.

  • Slovakia has sought an exemption from the EU’s oil ban which would allow the country to process cheap Russian crude until the end of 2024 if the EU can get the oil ban over the line.
  • The EU oil ban lacks full block support with Hungary holding up the process.
  • Matovic said the special tax could bring in around 300 million euros ($316.29 million) of additional revenue to the state budget.
  • The plan is being submitted to the Slovakian government today.
Energy BulletsCommodities
Energy BulletsCommodities

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