Ilyasov supports the idea of creating Chechen oil company

Russian Federal Minister For Chechen Affairs Stanislav Ilyasov has supported the initiative of the Chechen authorities to set up the republic's own oil company.

The issue is being considered, he said.

The minister also supports the proposal of the Chechen authorities to leave the taxes collected in the republic in the Chechen budget.

"Yesterday Kadyrov [president of the Chechen republic] visited Kudrin [Russian Deputy Prime Minister, Finance Minister] and discussed the problem of leaving taxes in the republic. I believe they should be there, it will be a kind of budget financing," Ilyasov explained.