Russia is suffering great economic losses due to the full-scale war in Ukraine, so its leadership plans to cover the budget deficit this year at the expense of big business.
Last December, Putin ordered the introduction of a one-time levy on raw material producers to cover budget costs for the war with Ukraine - the Russian government called these economic measures partial "income mobilization".
It is planned to introduce higher dividends for state-owned companies and a "one-time payment" by fertilizer and coal producers in accordance with the instructions given to government officials by the Prime Minister of the Russian Federation Mykhailo Mishustin.
According to media reports, the Russian government recently ordered large companies to make a one-time payment for the total amount to the budget 200-250 billion rubles ($2,8-3,5 billion), in the Russian Federation it is called "tax on unforeseen income".
According to the financial results of January 2023, the federal budget of the Russian Federation showed a record deficit of 1,8 trillion rubles ($25 billion) against the surplus 125 billion ($1,9 billion) a year earlier
Budget revenues in January were asked for 35%, primarily due to the reduction of oil and gas revenues on 46%. Non-energy incomes also fell — on 28%. Customs duties decreased by four times.
In turn, Russia's budget expenditures increased to record levels 58,7%, up to 3,1 trillion rubles. The volumes of state purchases increased fivefold compared to last year — from 249 billion to 1,3 trillion rubles.
According to experts, "income mobilization" in Russia will have profound consequences for the wealthy and middle class, and the economic pressure from war taxes will be felt by every Russian.
In September 2022, Russia experienced its first financial losses due to the war, currently Russia has to look for new sales markets for its oil and its refined products, since the European Union and the countries of the "Big Seven" introduced sanctions and price restrictions on Russian oil products.
