Slovakia proposes tax on refined Russian oil - Breaking The News
Download our appPlay StoreApp Store
Download our appPlay StoreApp Store

Slovakia proposes tax on refined Russian oil

Politics
Christian Baha / AB

1 min read

Slovak Finance Minister Igor Matovic presented a special tax on Russian crude oil processed in the country on Tuesday, adding €300 million to the state's revenue.

The minister will present a bill to the government which taxes the difference in prices between Russian oil and Brent oil. The tax rate will amount to 30% of the price difference and will be applied to all Russian crude oil processed in Slovakia.

The head of the finance department will propose the bill to the government on May 18, and if the bill is approved, Matovic hopes to apply the tax from June this year.

oileu-russia relations
Related News
Oil adds 1% after US inflation reading
The prices of oil futures advanced by 1% on Tuesday following the newest report on annual inflation in the United States in April, which showed another decline compared to the previous month, hitting its lowest level since February 2021.West Texas Intermediate (WTI) for deliveries in June jumped by 1.24% at 8:23 am ET to sell for $62.72 per barrel. A minute later, Brent for settlements in July added 1.06% to go for $65.64 per barrel.
EU explores measures to safeguard Russia sanctions
The European Commission is exploring alternative ways to use capital controls and tariffs against Russia if Hungary blocks the extension of the EU's economic sanctions imposed on Moscow, the Financial Times reported on Tuesday, citing officials briefed on the ongoing discussions.Hungary's Prime Minister Viktor Orban threatened to veto the extension of the sanctions unless all 27 EU members agree to extend them for another six months at the end...
Oil up 2% as demand concerns ease
Crude oil advanced on Monday following some positive news on the demand front. The United States and China agreed to significantly cut mutual tariffs for 90 days, relieving some downward pressure on energy prices. West Texas Intermediate (WTI) for deliveries in June grew by 2.22% at 4:45 am ET to sell for $62.67 per barrel. Brent for settlements in July increased by 2.23% a minute later, going for $65.59 per barrel.
UK sanctions 100 oil tankers in Russian shadow fleet
The UK government unveiled on Friday their largest sanctions package yet against Russia's shadow fleet, targeting approximately 100 vessels involved in transporting cargo valued at over $24 billion since the start of 2024.The declaration was delivered by Prime Minister Keir Starmer during the Joint Expeditionary Force (JEF) gathering in Oslo, forming part of wider initiatives to safeguard vital infrastructure and restrict Russia's capacity to finance its...
About
Contact Us

Please observe our Terms of Use. The price information is time delayed to varying extents, but as a rule by 15 minutes or more, according to the regulations of the selected stock exchange and/or licensors and the type of securities.

© 2025 TeleTrader Software GmbH. All rights reserved

This website uses cookies to ensure you get the best experience. Our Terms of Use and Data Protection Policy explain the data we collect, why we collect them, and how we may share them.