Close Menu
    Facebook X (Twitter) Instagram
    Trending
    • Anti-ICE Rioters Shut Down Bridge in Downtown Los Angeles (VIDEO) | The Gateway Pundit
    • Pamela Anderson’s Reaction To Lorde’s ‘Creepy’ Fascination With Her Sex Tape
    • Quad ministers condemn April attack in Indian Kashmir without naming Pakistan
    • Gauff crashes out of Wimbledon, setting unwelcome record | Tennis News
    • For Guatemala, Gold Cup semifinal is a historic homecoming
    • The Seattle Times editorial board recommends: No endorsement for Seattle City Council, Position 8
    • Qantas data breach to impact 6 million airline customers
    • Stephen A. Smith Warns Democrats Not to Embrace Communist Zohran Mamdani: ‘That Ain’t What America is’ (VIDEO) | The Gateway Pundit
    News Study
    Wednesday, July 2
    • Home
    • World News
    • Latest News
    • Sports
    • Politics
    • Tech News
    • World Economy
    • More
      • Trending News
      • Entertainment News
      • Travel
    News Study
    Home»World Economy

    France Proposes 500% Tariff On Russian Oil

    Team_NewsStudyBy Team_NewsStudyMay 15, 2025 World Economy No Comments4 Mins Read
    Share
    Facebook Twitter LinkedIn Pinterest Email


    The European Union lately carried out its 17th spherical of sanctions in opposition to Russia, in case the primary 16 have been inadequate. Jean-Noël Barrot, France’s Minister for Europe and Overseas Affairs, wish to take a harsher method by putting a 500% tariff on anybody buying Russian oil.

    “We should transfer ahead as a result of the current sanctions have not convinced Vladimir Putin to stop his war of aggression. Due to this fact, we should put together for the enlargement of devastating sanctions that would lastly strangle the Russian economic system,” the top of the French international ministry believes.

    Bureaucrats constantly press for a similar options that by no means deal with the issue. This plan would disproportionately harm Baltic EU member nations who’ve repeatedly defined that they’ve completely no different different than to proceed buying oil from Russia. The EU’s reliance on oil imports from Russia fell kind 27% to three% for the reason that starting of the warfare, however this doesn’t account for particular person nations who face particular person challenges.

    As of early 2025, round 60% of all oil imports to Hungary come from Russia. The nation is reliant on the Druzhba pipeline Slovakia nonetheless is determined by Russia for as much as 80% of its oil provide. Slovak Prime Minister Robert Fico has accused the EU of trying to create a “new Iron Curtain” between Russia and the West, and referred to as abandoning Russian oil “economic suicide.”

    “Quite the opposite, by insisting on stopping vitality provides from the east, the EU authorities, guided solely by political concerns, create situations for additional fuel worth will increase, which additionally has penalties for rising electrical energy costs,” Fico mentioned in a speech broadcast on SMER’s YouTube channel. Slovakia’s petrochemical vegetation and refineries are preconfigured for Russia oil.  The nation would wish to replace infrastructure, pay greater transit charges, and pay extra total for the need of vitality.

    Fico visited the Kremlin final week and expressed an curiosity in sustaining relations with Russia.  As famous in a ready speech:

    “There are additionally sanctions, which don't work and trigger injury to the European Union itself. Now the EU has give you a proposal referred to as Repowering. It is a halt to the availability of every kind of vitality assets. However allow us to discuss constructively. You'll perceive very properly what I'm going to let you know now. If somebody thinks that it's doable to purchase gasoline from Westinghouse and use it at our nuclear energy vegetation, it's not possible.
    
    A halt of fuel provides will trigger instability. Our petrochemical vegetation have been arrange to make use of Russian oil for oil refining, and the shutdown might trigger technological issues. I hope that our EU companions will study this when authorized acts are adopted in reference to Repowering. Whether it is vital for all 27 nations to agree, we are going to use our veto energy to ban imports of all kinds of vitality assets. Whether it is determined to not vote unanimously, however by majority, then main nations will take their resolution.”

    Because of this the European Union has moved ahead with selections with out unanimous votes. Brussels eradicated any remaining trace of democracy and are forcing all EU nations to abide by its instructions. Votes will not matter as Brussels has full authority.

    “EU sanctions on Russia have value Budapest €19 billion ($19.9 billion) within the final three years, greater than the nation’s annual tax revenues,” Hungary’s Orban acknowledged again in January when he begged the bloc to drive Ukraine to allow Russian fuel transit. Orban has repeatedly defined that the EU is damaging its personal vitality sector by sanctioning a nation it isn’t formally at warfare with, however each headline reads that he’s a Putin puppet.

    Inserting 500% sanctions on nations importing Russian oil would hurt EU commerce total. China is the highest purchaser of Russian crude, holding 47% of total exports, adopted by India at 38%.

    “Russia has discovered methods to avoid restrictions imposed by Europe and the US, so turning off the faucet may take Russia by the throat,” French Overseas Minister Jean-Noel Barrot added.

    The European Fee remains to be phasing out Russian oil for the bloc by 2027. Hungary and Slovakia have an upcoming deadline to current the fee with plans for the way they plan to section out Russian imports. Each nations have mentioned they plan to combat Brussels however these on the prime merely don’t care about particular person member states. This is without doubt one of the many the explanation why the EU merely is not going to and can’t survive.



    Source link

    Team_NewsStudy
    • Website

    Keep Reading

    Ring Of Fire Is Becoming Active On Schedule

    Donald Trump threatens to raise tariffs again on Japan

    Donald Trump threatens to increase tariffs on Japan

    A resurgent China should do the hard work now

    Market Talk – July 1, 2025

    Switzerland stirs Brexit ghosts in push for EU access

    Add A Comment
    Leave A Reply Cancel Reply

    Editors Picks

    Anti-ICE Rioters Shut Down Bridge in Downtown Los Angeles (VIDEO) | The Gateway Pundit

    July 2, 2025

    Pamela Anderson’s Reaction To Lorde’s ‘Creepy’ Fascination With Her Sex Tape

    July 2, 2025

    Quad ministers condemn April attack in Indian Kashmir without naming Pakistan

    July 2, 2025

    Gauff crashes out of Wimbledon, setting unwelcome record | Tennis News

    July 2, 2025

    For Guatemala, Gold Cup semifinal is a historic homecoming

    July 2, 2025
    Categories
    • Entertainment News
    • Latest News
    • Politics
    • Sports
    • Tech News
    • Travel
    • Trending News
    • World Economy
    • World News
    About us

    Welcome to NewsStudy.xyz – your go-to source for comprehensive and up-to-date news coverage from around the globe. Our mission is to provide our readers with insightful, reliable, and engaging content on a wide range of topics, ensuring you stay informed about the world around you.

    Stay updated with the latest happenings from every corner of the globe. From international politics to global crises, we bring you in-depth analysis and factual reporting.

    At NewsStudy.xyz, we are committed to delivering high-quality content that matters to you. Our team of dedicated writers and journalists work tirelessly to ensure that you receive the most accurate and engaging news coverage. Join us in our journey to stay informed, inspired, and connected.

    Editors Picks

    Japanese firm declares lunar mission a failure after crash landing | Space News

    June 6, 2025

    MIT Class President Who Hijacked Commencement for Personal Woke Agenda Banned from Graduation | The Gateway Pundit

    May 31, 2025

    Republicans re-elect Mike Johnson as US House speaker in nail-biting vote | Donald Trump News

    January 4, 2025

    Musk’s X pays millions in Brazil fines to wrong bank account, says top court

    October 5, 2024
    Categories
    • Entertainment News
    • Latest News
    • Politics
    • Sports
    • Tech News
    • Travel
    • Trending News
    • World Economy
    • World News
    • Privacy Policy
    • Disclaimer
    • Terms & Conditions
    • About us
    • Contact us
    Copyright © 2024 Newsstudy.xyz All Rights Reserved.

    Type above and press Enter to search. Press Esc to cancel.