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Kremlin says no decision yet on Rosneft’s tax break bid for Arctic investment

The initiative requires tax benefits of 2.6 trillion rubles ($41.53 bln)

MOSCOW, July 15. /TASS/. There is no decision yet regarding the request of Rosneft CEO Igor Sechin to provide benefits for the development of Arctic projects, Presidential Spokesman Dmitry Peskov told reporters on Monday.

"Firstly, no decisions were made on this request," Peskov said. "Secondly, we traditionally do not comment on official correspondence, we will not do it this time either," he added.

Vedomosti reported earlier that Rosneft CEO Igor Sechin sent a letter to Russian President Vladimir Putin, stating that Rosneft and Eduard Hudainatov’s Neftegazholding were ready to invest 5-8.5 trillion rubles ($79.87-135.79 bln) in the development of the Arctic. The initiative requires tax benefits of 2.6 trillion rubles ($41.53 bln) though.