US EditionU.S. Considers Oil Sanctions to End Ukraine Conflict
UNITED STATES, EUROPE, JUL 21 – The US aims to cut Russia's oil revenue, about one-third of its budget, by urging Europe to join secondary tariffs that could reach 100%, targeting buyers like China, officials said.
- Amid pressure to curb Moscow’s oil revenues, US Treasury Secretary Scott Bessent pressed Europe to adopt these measures.
- Russia’s oil revenues, funding its war in Ukraine, prompt the US to urge Europe to join secondary tariffs, Bessent said.
- Secondary tariffs impose extra fees on countries trading with Russia, so exports from buyers like China could face a further 100% tariff, affecting global trade and consumers.
- In Moscow, Dmitry Peskov called the U.S. threat `serious`, saying Moscow needs time to analyze Washington’s message.
- In a parallel move, the EU cut its Russian oil price cap to $47.60 per barrel and banned refined products in third countries.
16 Articles
16 Articles
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Energy Secretary Wright Says Sanctioning Russian Oil to End Ukraine War Is a Possibility - The Thinking Conservative
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U.S. Considers Oil Sanctions to End Ukraine Conflict
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