You're reading: Russia to raise tax on natural gas production

Russia's government has decided to put up mineral resources extraction tax for natural gas by 61% to raise 51.3 billion rubles for the state in 2011, 60.4 billion in 2012 and 69.1 billion in 2013, Finance Minister Alexei Kudrin said on Wednesday.

Legislation to raise the tax will be drafted shortly, Kudrin told journalists at a briefing.