Rosneft’s president Igor Sechin agrees to tax manoeuvre in oil industry

The Ministry of Finance has planned to conduct a tax manoeuvre in the oil industry - a sharp decline in oil export duties and excise duties, as well as a compensating increase of MET – in the next year. The parameters of it have already been agreed with the Ministry of Energy and some of large oil companies, but the reform was under the threat of failure because of the criticism from the president of Rosneft Igor Sechin, federal officials reported. At the end of June, he insisted on the abolition of the manoeuvre in his letter to the First Deputy Prime Minister, Igor Shuvalov.

But on last Wednesday during the meeting on the budget President Vladimir Putin told the Ministers that he approved the tax manoeuvre on scenario of the Ministry of Finance and the Ministry of Energy and has already agreed it with Sechin. Three federal officials reported this to the Vedomosti. The final meeting will be held at the president’s office this week, they added. The representatives of the Deputy Prime Minister, Arkady Dvorkovich, who is in charge of the FEC, the Ministry of Finance and the Ministry of Energy didn’t respond to the Vedomosti’s inquiry. The edition couldn’t get the comments of the Kremlin’s press centre. A representative of Rosneft declined to comment.