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Imposition of tariffs on Russian oil will raise crude oil prices

Imposition of tariffs on Russian oil will raise crude oil prices

Moscow, May 18 (Prensa Latina) Russia's presidential spokesman, Dmitri Peskov, warned that the possible imposition of tariffs on Russian oil by the West will trigger a global increase in the price of crude oil.
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“This is a question of economic viability, oil buyers will have to pay more or look for alternative sources,” the official assured reporters.

Peskov argued that the United States and its allies use the special military operation in Ukraine as an excuse to sanction Moscow, without analyzing the economic cost this may entail for their countries.

This week, Reuters news agency reported that the United States will propose to Europe, at a meeting of G7 finance ministers, to impose tariffs on oil from Russia, something that would be a quick alternative to a direct oil embargo.

In early May, the European Union’s Permanent Representatives Committee (Coreper) failed to unanimously agree on the sixth package of sanctions that the European Commission proposes to impose on the Eurasian nation for its military operation on Ukrainian territory.

The Czech Republic, Slovakia and Hungary pronounced themselves against a complete embargo on Russian hydrocarbons.

In the specific case of the Czechs and Slovaks they asked for a three-year transition period, while the Hungarians asked to make an exception for the supply of Russian oil through pipelines.

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