“Russian oil pipeline monopoly Transneft said it risks running out of money by 2026 and could halt major investment projects after parliament approved a tax hike.”, — write: epravda.com.ua
Russian oil pipeline monopoly Transneft said it risks running out of money by 2026 and could halt major investment projects after parliament approved tax hikes. This is reported by Reuters. Earlier on Tuesday, the Russian parliament approved an increase in Transneft’s income tax to 40% from 20% during 2025-2030. “Only a quarter of the profit will remain in the company’s budget. And this guarantees that by 2026, Transneft should expect a cash deficit, suspension of implementation and rejection of large investment projects, including capital repairs and reconstruction,” the company said, commenting on the tax increase .Advertising: Russia wants to raise taxes because it needs to finance its military campaign in Ukraine. The sweeping tax reform is expected to raise additional revenues of 1.7% of GDP in 2025.Advertisement: Separately, Transneft, which operates Russia’s 67,000-km network of oil pipelines, said it was raising fees for the transportation of petroleum products by 13.8% from December 6, as well as the tax on Transneft’s profits to 40% from 20% during 2025-2030. years
