Sanctions may force Russia to raise taxes: Medvedev | Bangkok Post: news

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Sanctions may force Russia to raise taxes: Medvedev

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MOSCOW - Russia may be forced to raise taxes in next year's budget to make up for the impact of Western sanctions imposed over Moscow's Ukraine policy, Prime Minister Dmitry Medvedev said Tuesday. 

Russian Prime Minister Dmitry Medvedev speaks during a meeting in St. Petersburg, on June 20, 2014

The budgets for 2015-2017 will "have to reflect the current situation in the Russian and global economies, including the negative consequences of sanctions launched against some of our companies and, in essence, against the whole country," he told a government meeting.

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