U.S. Set To Suggest European Tariff On Russian Oil Instead Of Embargo

The United States is considering proposing that European countries impose a tariff on Russian oil to allay concerns about the security of supply and surging oil prices, U.S. Treasury officials told Reuters on Tuesday. The proposal is expected to be suggested at the G7 finance summit in Brussels later this week, as the EU is still struggling to find a common position on a phased-out embargo on Russian oil imports by the end of the year. G7 members committed earlier this month to stop buying Russian oil, although they did not specify how and when…