Subsidizing fuel is creating a budgetary crisis in Russia amid its ongoing war in Ukraine and soaring inflation, with the state budget now expected to take a multi-billion-dollar hit, according to Reuters calculations. In September, Moscow moved to slash by 50% a subsidy for oil refiners, which Reuters calculates will have to be offset by some $4.3 billion in subsidies to other industries, plus a one-off tax that equates to over $3.7 billion. When Russia moved to cut its damper subsidy for refiners just over a month ago, the knock-off…
Hence then, the article about putin faces election challenge as fuel subsidies backfire was published today ( ) and is available onOILPRICE ( Middle East ) The editorial team at PressBee has edited and verified it, and it may have been modified, fully republished, or quoted. You can read and follow the updates of this news or article from its original source.
Read More Details Finally We wish PressBee provided you with enough information of ( Putin Faces Election Challenge As Fuel Subsidies Backfire )