A year ago, Russia ordered state companies to spend 50 percent of their profits on dividend payments in 2016, depending whichever profit - under Russian or international accounting standards - is higher.

The latest move will allow Russia to increase federal budget revenues from government stakes in companies, the order, signed by Russian Prime Minister Dmitry Medvedev, said.

(Reporting by Darya Korsunskaya; writing by Polina Devitt; editing by Susan Thomas)