Finance Ministry Does Not Plan to Take Away Gazprom’s Excess Profits

The Russian Ministry of Finance does not plan to raise taxes for Gazprom in order to withdraw excess profits from record gas prices in Europe, the head of the ministry Anton Siluanov told reporters.

Gazprom supplies gas under long-term contracts to the EU and the price in them is much lower than the exchange price, which has grown 5 times since the beginning of the year, Russian media reported.

“This is not provided for in our tax initiatives,” Siluanov explained.