Rosneft, Gazprom targeted in new levies through 2020 State giants could lose as much 10% of cash flows: Sberbank Russian stocks fell for a second day after the government renewed calls to boost taxes on energy companies to narrow its budget shortfall. Oil and gas were among the biggest losers in Russian stocks, sliding 1.1 percent as a group versus a 0.6 percent drop for the Micex benchmark. The ruble strengthened 0.4 percent to 64.88 per dollar by 12:10 p.m. in Moscow. Faced with the biggest deficit in six years and depleted sovereign funds, Russia may seek 320 billion rubles ($4.9 billion) from new taxes on the industry next year and additional levies through 2020. The burden could leave energy companies whose profits have shown resilience to plummeting crude prices “much more exposed,” according to Sberbank CIB. “Extractions are rather heavy and will affect both the cash flows and […]