In an early policy win for Finance Minister Anton Siluanov, Russia is preparing a major change in how it taxes oil. The second phase of the so-called “tax manoeuvre” will shift the tax burden entirely upstream and cut export duties to zero.
What better time than the eve of the World Cup for Vladimir Putin to reshuffle his team? However, if his tweaks of the Presidential Administration are anything to go by, he no change in direction is needed. He'd better think again.
Russia’s largest oil company state-owned Rosneft started drilling at a natural gas at a field off of Vietnam’s coast and cross one of Beijing’s red lines in the process.
At this point, there is no need to repeat details of the staged murder of Arkadiy Babchenko by Ukrainian Security Service (SBU). The news of his death crossed the world in the speed of light but the operations brought a lot of criticism too.
Moscow, rather than a US Presidential tweet, is the initiator of the expected revised Russia-OPEC production deal. The Kremlin has made it clear for some time that it is a lot less happy with high, and rising, oil prices of late.
If Kyiv squanders this opportunity, it will have to muddle through to end-2019 without any material support from IFIs.