• Corpus ID: 248006330

What is the effect of EU's fuel-tax cuts on Russia's oil income?

@inproceedings{Gars2022WhatIT,
  title={What is the effect of EU's fuel-tax cuts on Russia's oil income?},
  author={Johan Gars and Daniel Spiro and Henrik Wachtmeister},
  year={2022}
}
: Following the oil- price surge in the wake of Russia’s invasion of Ukraine, many countries in the EU are proposing to cut taxes on petrol and diesel. Using standard theory and empirical estimates, we assess how such tax cuts will influence the oil income in Russia. We find that a tax cut of 20 euro cents per liter would increase Russia’s oil profits by around 11 -17 million Euros per day in the short run and long run. This is equivalent to 4100-6300 million Euros in a year, 0.3-0.5% of Russia… 

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