Russia will squeeze oil and gas producers for additional funds by assessing higher taxes, according to a new Russian draft budget. The move is telling both of the state of Russia’s oil and gas producers as they rake in additional profits on higher market prices, despite Western sanctions, and the need for additional funds to assist with the country’s budget deficit. Russia’s draft plan is to increase taxes on oil and gas companies by 3 trillion rubles, or $50 billion, starting in 2023 and running through 2025. The Russian government…
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