August 22, 2018 / 9:46 AM / 8 months ago

Russian ministries reject proposed windfall tax on metals and mining firms

KUBINKA, Russia, Aug 22 (Reuters) - Russian government ministries have agreed that a proposed windfall tax on metals, mining and chemical companies was inappropriate, Industry Minister Denis Manturov said on Wednesday.

“With colleagues from other ministries, we reached a common position that as of today it’s inappropriate,” he told reporters on the sidelines of a military forum outside Moscow.

The proposal, put forward by Kremlin economic aide Andrei Belousov this month, listed Evraz, NLMK, Nornickel, Severstal, MMK, Mechel , Alrosa, Polyus, Phosagro and Acron as among the targeted companies. (Reporting by Gleb Stolyarov Writing by Polina Nikolskaya Editing by Louise Heavens)

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