Russian MinFin drafting bill to levy higher revenues from gas price indexation above inflation through MET

ST. PETERSBURG. June 19 (Interfax) - The Russian Finance Ministry is working on a bill that will levy higher revenues from gas price increases above inflation through mineral extraction tax.

"We have an instruction from the president that further indexation above the rate of inflation should be centralized in the budget. We are currently drafting a bill that is aimed at this kind of centralization of revenues from MET on gas and taxing it for the budget. We are not drafting any other bills for gas," Deputy Finance Minister Alexey Sazanov told journalists on the sidelines of the St. Petersburg International Economic Forum when asked whether equalizing the MET on gas depending on the volume of sales to different categories of consumers was being discussed.