Kremlin on US tariffs plans: Buyers will have to pay more or seek alternative suppliers

Dhwani Mehta FXStreet

The Kremlin said in a statement on Wednesday, “buyers will have to pay more or seek alternative suppliers” responding to the US proposal to levy tariffs on Russian oil.

US Treasury Secretary Janet Yellen said Tuesday, “the European Union could combine import tariffs on Russian oil with the phased oil embargo it is trying to put in place to shrink Russia’s energy revenues,” per Reuters.

Market reaction

WTI was last seen trading almost unchanged on the day at $110.80.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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