Russia’s finance ministry is looking to raise as much as US$1.93 billion (143 billion Russia rubles) in taxes from the oil industry over the next two years, as the oil price crash has shrunk Russia’s key revenue stream—oil. According to a document on a Russian government website, cited by Reuters , the finance ministry is looking to receive more tax proceeds by amending the tax code and the recently implemented profit-based tax. The government and the Russian oil industry are heading for a dispute over the proposed tax amendments, Russian business daily Kommersant reported on Monday, citing sources familiar with the matter. According to Kommersant’s sources, the proposal – if passed – would negatively affect mostly Gazprom Neft, the oil division of gas giant Gazprom, and Rosneft, the biggest oil producer in Russia. The profit-based tax, introduced as an experiment last year, has led to the Russian budget not […]