The Russian government has set its sights outside the energy sector in its search for new sources of revenue. President Vladimir Putin is studying a tax proposal that would give the government an additional $7.6 billion from metals, mining, petrochemical and chemical companies. The study will also include an assessment of how they would affect investment. It’s clear that the government feels its financial constraints, but it’s unclear how much its efforts to break free of them will rankle other companies, many of which have already expressed their opposition to the proposal. At this point, confrontation seems inevitable.
The defense ministers of India and China are trying to regain each other’s confidence. China’s will soon travel to New Delhi, and India’s will take a goodwill tour of China next week. The ministers will also set up a hotline between their armies to reduce the risk of conflict breaking out. These mark the first high-level military visits since the standoff