September 18, 2017 / 12:12 PM / 4 months ago

Russian government approves 2018 hike in fuel excise tax: minister

MOSCOW (Reuters) - The Russian government has approved a plan to hike excise tax on fuel by 0.5 rubles ($0.0087) per liter on both Jan. 1 and July 1, 2018, Finance Minister Anton Siluanov told reporters on Monday.

He said the tax increase would bring in an additional 40 billion rubles to the state budget next year.

Reporting by Darya Korsunskaya; Writing by Vladimir Soldatkin; Editing by Mark Potter

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