Experts doubt Trump will enforce Russian oil tariffs
US President Donald Trump’s threat to impose tariffs on buyers of Russian oil if no agreement is reached on Ukraine does not seem likely to be carried out.
1news.media reports that experts commenting to Reuters on the US leader’s warning said it appears unlikely that the threat will be fulfilled.
American expert Fernando Ferreyra said, “We believe that secondary sanctions could be a very blunt instrument for the US administration.”
He warned that this would effectively remove 4.5 million barrels of oil per day from the global market and disrupt US trade relations with other countries buying Russian oil. Ferreyra emphasized that such a plan could cause major spikes in oil prices and lead to a global economic collapse.
It is also noted that Trump initially issued similar threats against Venezuela, but so far these statements have remained only on paper and have not stopped China from continuing to buy Venezuelan oil.
