Russian budget earns additional $ 1 trln rubles from OPEC+

Baku. 3 October. REPORT.AZ/ OPEC+ agreement on oil production cuts has brought additional 0.7-1 trln. rubles ($ 12-17.2 bln) to Russian budget. 

Report informs citing the RIA Novosti, Russian energy minister Alexander Novak stated.

"The deal, which has brought over 1 trillion rubles to the budget, has also made local companies earn extra profits," Novak said.

The minister also noted that the agreement brought more profit to the budget rather than from the companies. This was due to the rise in the ruble and the income tax. A. Novak also stressed that he did not see any reason for further cuts in oil production.