Russia is considering raising taxes affecting some mining companies, tobacco sales and the oil industry, reports Reuters.

This step, which is estimated to generate some RUB 340 billion (USD 4.53 billion) per year, is an attempt to plug holes in Russia's budget, the report said.
Moscow wants to increase the excise tax on cigarettes by 20 per cent next year. According to Reuters, plans were confirmed by the Finance Minister Anton Siluanov on 16 September. “When it is difficult, everyone should be involved in solving the problems which the country and its people are facing,” Prime Minister Mikhail Mishustin was quoted as saying. He described the proposal, yet to be finalised, as “slightly increasing taxes on a number of profitable sectors”, the report said.