Russian President Dmitry Medvedev signed into law a bill that will gradually triple excise taxes for tobacco by 2014, reports Prime business news agency.

Under the law, the excise tax on cigarettes is to amount to no less than RUB 460 (EUR 11.00) per 1,000 units from 1 January 2012; RUB 510 (EUR 12.20) from July 2012; RUB 730 from 2013; and RUB 1,040 from 2014.
The current tobacco tax is RUB 360 roubles for 1,000 cigarettes.
The bill also increases the excise tax on alcohol products from 1 January 2012 by 10 per cent to RUB 254 per liter, which will increase to RUB 500 after 2014.
Meanwhile, a draft law which was proposed by the the Ministry of Health and Social Development in August and which would severely limit smoking and tobacco sales is still under discussion. (pi)