Russian Finance Ministry proposes extending oil-refinery modernization for two years as part of investment agreements - bill

MOSCOW. April 12 (Interfax) - The Russian Finance Ministry has sent a bill to the government on extending the modernization of production facilities for oil refineries under investment agreements with the Energy Ministry, according to materials posted on the Finance Ministry's website.

"In order to retain the conditions for incentivizing the investment activity of taxpayers, the provisions of the prepared bill envisage a two-year extension of the commissioning deadline for facilities under investment agreements," according to the materials.

As noted, the purpose of the bill is to retain the conditions for incentivizing the investment activity of oil refiners.