Gazprom faces tax grab

The Kremlin is pursuing another way to extract money from Gazprom, after failed efforts to force a dividend rise

The Kremlin wants to increase the mineral extraction tax (MET) paid by export monopoly Gazprom, as it looks to quietly abandon a decree obliging state-controlled companies to pay higher dividends. The decree has been observed mainly in the breach. Russia's State Duma legislature in July passed a law adjusting the MET rate paid by Gazprom. From 1 September, a coefficient used to calculate the MET on gas for Gazprom will be raised—to 2.055 from 1.402—for the remainder of the year. Ilya Trunin, deputy finance minister, said this temporary increase in MET would partly compensate for the 72bn-rouble ($1.13bn) shortfall in the state budget from Gazprom's failure to raise its dividend payout in acc