Russia’s Finance Minister Anton Siluanov said it is impossible to raise taxes on non-oil and gas sectors and spend additional revenues from the oil price surge on infrastructure and social expenditure.
"We still consider extra spending of revenues from the current economic situation and tax burden rise for non-oil and...
Russia will be forced to reciprocate if EU states decide to expel Russian diplomats, Izvestya writes on Monday citing sources in diplomatic circles. The news comes after leaders of countries in the European Union passed a decision to recall EU Ambassador to Russia Markus Ederer for consultations over the...
U.S. President Donald Trump is reportedly on the verge of expelling dozens of Russian diplomats from the U.S., following the poisoning of former spy Sergei Skripal and his daughter Yulia in Britain, The Washington Post reports, citing U.S. and European officials.
According to the report, the president was recommended to...
Venezuela’s controversial state-backed cryptocurrency, the petro, is a “half-hidden joint venture” between Venezuelan and Russian officials and businessmen, according to a new report by Time.
The petro, which first went on presale on February 20, is the world’s first state-backed cryptocurrency. Its value is tied to the country’s oil reserves....
Russian gross domestic product (GDP) grew 1.5 percent year-on-year in February, the Russian Economy Ministry said on Thursday.
According to Banki.ru, the growth is noted in the March edition of the ministry’s “Business Landscape” publication. Earlier, the head of the ministry Maxim Oreshkin said that the growth rate of the Russian economy...
The raising of the personal income tax in Russia to 15% from the current 13% would not lead to tax evasion, Russian Deputy Prime Minister Arkady Dvorkovich said on Thursday, adding that the government could use the additional income to better the country’s healthcare.
"If the new approaches are deemed fair, if...
Russian First Deputy Prime Minister Igor Shuvalov has hinted that the Cabinet has a miraculous plan to unleash economic growth and led the country out of the crisis, Nezavisimaya Gazeta reported.
According to the newspaper, the proposed moves, which will include tax reforms, are expected to be made public within...
The continuation of an economic policy that has seen a major spike in foreign investment in Russia will be ensured by Vladimir Putin’s re-election as President of Russia the head of the Russian Direct Investment Fund has said.
"Since the elections are over, it will allow institutional investors to actively...
Russian President Vladimir Putin has secured six more years in the Kremlin with an emphatic victory in Sunday's presidential poll. His victory was no surprise but it was still sweet for the Russian leader, who has been re-elected by a landslide, winning three-quarters of the votes cast.
Claims of ballot...
