Marchenko reckons that measure would only raise prices and bring revenue to Russia; suggests tariff on imports
Ukraine’s Finance Minister Serhiy Marchenko said that the European embargo on Russian energy would significantly increase oil prices and thus provide revenue for Russia. As an alternative, Marchenko advocates the creation of a tariff on oil and gas imports from Russia.
“A total embargo only gives Russia additional money because I believe the price of oil and gas will rise to exorbitant levels.”, said the minister in an interview with Wall Street Journal published on Saturday (23.Apr.2022). “That’s why they try to use more sophisticated tools like taxation.”
THE HUH (European Union) and the United States are looking for a way to reduce the profits that Russia makes from the sale of commodities for the Europe.
In Marchenko’s assessment, an embargo would raise prices to the point that Russia could still earn significant revenue from oil and gas sales to other countries.
Marchenko also suggested that the money raised from the tariff be used to support Ukraine in the war.
“As long as they agree on something that is best for us, because time is very important to us. A quick decision can help us win this war”, said the Ukrainian minister.
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