Russian Billionaire Lisin Asks Medvedev to Cut Taxes on Bullets

Steelmaking billionaire Vladimir Lisin, head of the Russian Shooting Union, asked President Dmitry Medvedev to lower taxes on bullets.

Bullets used in sport should be exempt from value-added tax and a levy that’s imposed by the Interior Ministry because they are too expensive, Lisin told Medvedev at an Aug. 13 meeting in Sochi, southern Russia, according to the union’s website.

Lisin, who owns OAO Novolipetsk Steel, Russia’s biggest producer of the metal by market value, is the country’s richest man, according to Forbes magazine.

Lisin’s press service confirmed that the meeting had taken place and declined to comment further.

To contact the reporter on this story: Ilya Khrennikov in Moscow at ikhrennikov@bloomberg.net

To contact the editor responsible for this story: Amanda Jordan at ajordan11@bloomberg.net

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