PRESS: Govt may compensate for oil firms incentives with natl fund

MOSCOW, Apr 1 (PRIME) -- The Russian government may use funds from the National Wealth Fund to compensate for a 190 billion ruble shortfall in budget revenue from raising compensation to oil firms for motor fuel supplies to the domestic market, business daily Vedomosti reported Monday citing several sources.

Two other options encompass raising excise duties on fuel oil and middle distillates or raising the mineral extraction tax (MET) for oil producers, sources said.

A representative of the Finance Ministry declined to say what options of compensation to the budget were discussed.

Last year, oil companies promised the government to raise gasoline and diesel fuel supplies to the domestic market by 3% as part of measures to curb growth of fuel prices.

(64.7347 rubles – U.S. $1)

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