PRESS: Ministry seeks to freeze incentives on Arctic projects

MOSCOW, Aug 20 (PRIME) -- Russia’s Finance Ministry has proposed to introduce an official moratorium on new state support measures for oil and gas fields in the Arctic, Kommersant business daily reported Tuesday citing Deputy Minister Ilya Trunin’s report to President Vladimir Putin.

Despite the moratorium on new state support measures for oil and gas fields introduced in July until 2022, oil major Rosneft insists on incentives for its joint project with Neftegazholding in the Arctic, the daily said. The Finance Ministry seeks to freeze all decisions on incentives until inventory of projects, or indefinitely.

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