Russia Weighs Windfall Levy on Miners and Banks for War Budget

Russia is considering a windfall tax on some commodity producers and banks as the Kremlin seeks additional funds to plug a budget gap amid rising war-related spending, according to people familiar with the matter.

The Finance Ministry is weighing the new windfall levy on businesses as the 2022 invasion of Ukraine continues. No final decision has been made, with detailed discussions likely to begin in the second half of the year as part of a new budget cycle, the people said, asking not to be identified because the information isn’t public.