Novak Calls U.S. Diesel Deal a 'Positive Signal' for Russia's Economy
Russian Deputy Prime Minister Alexander Novak said on Wednesday that the diesel agreement with the United States is linked to higher Russian refining and production and means additional taxes for the budget. He spoke to journalists at Russian Energy Week in Moscow, calling the agreement "a positive signal for our economy", and saying it brings spending on the social sphere and opportunities for…
Russian Deputy Prime Minister Alexander Novak called the U.S. diesel agreement a positive signal for Russia's economy, stating it boosts refining and production, leading to additional taxes for the budget. He also mentioned it opens up opportunities for investment and social spending. Finance Minister Anton Siluanov confirmed there are no export duties on diesel and that exports will be factored into companies' financial results, contributing to the budget system.
Novak had previously predicted Russia could supply 3 million to 3.5 million tons of diesel to global markets by year-end, more than 10% of the world market.
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