Russia lost so much money due to the Ukraine war that it now aims to raise $4 billion by slapping a windfall tax on its oligarchs
The Kremlin is feeling the pinch from its war in Ukraine so much that it's imposing a one-time windfall tax on large Russian companies and their oligarch owners.
Russia approved a draft bill to slap up to a 10% one-off windfall tax on large Russian companies, according to a Tuesday announcement by the country's It's targeted towards companies that annually made more than 1 billion rubles, or $11.9 million, in profits since 2021, per the announcement. This levy could raise about 300 billion rubles, or $3.6 billion, in taxes collectively, Andrei Belousov, the first deputy prime minister, said in an interview with
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