MOSCOW, September 30 (RIA Novosti) – Russian President Vladimir Putin has signed a federal law granting tax and customs benefits for oil and gas production on the country’s continental shelf, the Kremlin site said Monday.
It sets out stimulus measures for companies involved in oil and gas production on Russia’s continental shelf of in the Russian section of the Caspian Sea, such as zero VAT on the sale and transportation of hydrocarbon raw materials and derivatives.
It was adopted by the State Duma, Russia’s lower house of parliament, on Sept. 11, and approved by the Federation Council, the upper house, on Sept. 25.
Add to blog
You may place this material on your blog by copying the link.
Image Galleries: Siberian Air Base Gets New Su-30SM Fighter Jets
Infographics: First Russian Smartphone
New ties between Russia and Japan would mark not only a breakthrough in their relations but also a significant shift in Northeast Asia’s political dynamic. Both are secondary players in a region overshadowed by an increasingly assertive China, which has not hesitated to push against the boundaries of its neighbors.