Russian Senate Speaker Proposes Ending VAT Break on Oysters, Lobsters

Valentina Matviyenko, Speaker of Russia's Federation Council, proposed eliminating the reduced VAT rate on luxury seafood items like oysters and lobsters, arguing the freed revenue could fund two schools or a hospital. The proposal is part of a broader push to inventory tax benefits, but it is at an early stage and faces legislative hurdles. It signals a potential fiscal tightening direction in Russia, though its market impact is minimal.