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Russia agrees new MET tax, shelves profit levy

Russia has agreed a new formula for its mineral extraction tax (MET) with certain players that it believes will generate an additional US$2.2 billion in revenue in 2022, according to local media reports.

Russia agrees new MET tax, shelves profit levy Russia agrees new MET tax, shelves profit levy Russia agrees new MET tax, shelves profit levy Russia agrees new MET tax, shelves profit levy Russia agrees new MET tax, shelves profit levy

Russian news agency Interfax reported state officials as saying the tax had been agreed with producers of steel, iron ore, coking coal and mixed ores.

The new MET tax will be set at 4.