September 18, 2017 / 12:12 PM / a month 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.

FILE PHOTO: Russian Finance Minister Anton Siluanov attends the congress of the Russian Union of Industrialists and Entrepreneurs (RSPP) in Moscow, Russia March 16, 2017. REUTERS/Sergei Karpukhin

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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