MOSCOW, Nov 26 (Reuters) - Russia's oil pipeline monopoly Transneft (TRNF_p.MM) , opens new tab said on Tuesday that it risked running out of cash by 2026 and may suspend large investment projects after parliament approved a tax hike.

Earlier on Tuesday, Russia's parliament approved an increase in the tax on Transneft's profits to 40% from 20% during 2025-2030.

"Only a quarter of the profit will remain in the company's budget," the company said, commenting on the tax hike.

"And this ensures that by 2026, Transneft should expect a shortage of cash, suspension of implementation and abandonment of large investment projects, including major repairs and reconstruction," it added.

Russia is seeking to raise taxes as it needs to fund its military campaign in Ukraine. A major tax reform is expected to generate additional revenue worth 1.7% of GDP in 2025.

Separately, Transneft, which operates Russia's 67,000 km-long (42,000 miles) oil pipeline network, said it was raising transportation fees for oil products by 13.8% from Dec. 6.

The Russian Federal Anti-Monopoly Service has proposed raising tariffs for transporting crude via Transneft's pipelines by 5.8% in 2025 after a 7.2% hike in 2024.

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https://www.reuters.com/markets/commodities/russias-transneft-says-it-may-suspend-large-projects-due-tax-hike-2024-11-26/