Russia To Hit Gazprom With $20 Billion Windfall Tax

"Russia’s lower house of parliament approved on Tuesday amendments in the country’s tax
code that would slap a windfall tax on Gazprom of the equivalent of $20 billion between September and November, which will boost Russia’s tax revenue income.   

 Russia is said to be earning more than $100 million every day from the gas it sells to Europe despite the slashed deliveries to major EU consumers in recent weeks, according to data from Independent Commodity Intelligence Services.

Despite the EU embargo on Russian seaborne oil, to take effect by the end of the year, and the drastically reduced pipeline gas supply, Russia continues to benefit from the high oil and gas prices. Despite Western sanctions designed to hurt Russia’s oil revenues and war chest, Moscow is still getting a lot of additional billions of U.S. dollars in oil and gas revenues." ZeroHedge