How to weaken Russian oil and gas strength

Ricardo Hausmann, Agata Łoskot-Strachota, Axel Ockenfels, Ulrich Schetter, Simone Tagliapietra*, Guntram Wolff, Georg Zachmann

*Corresponding author

Research output: Contribution to journalArticle

Abstract

Oil and gas exports revenues, estimated at around USD 1 billion per day, represent Russia’s key geopolitical and economic strength. The European Union is the first buyer of Russian oil and gas. The Letter argues that to weaken Russian oil and gas strength while minimizing impacts on its own economy, the EU should rapidly introduce a tariff on Russian oil and gas imports. The tariff can be adapted to the economic and political dynamics of the conflicts.
Original languageEnglish
Pages (from-to)468-469
Number of pages2
JournalScience
Volume376
DOIs
Publication statusPublished - 2022

Keywords

  • Russia
  • Sanctions

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