WASHINGTON—Ukrainian Finance Minister Sergii Marchenko said a possible European embargo on Russian energy would significantly raise costs, lending his aid to alternatives like a tariff on oil-and-gas imports from Russia.

Mr. Marchenko claimed in an interview with The Wall Road Journal that an embargo would elevate selling prices so superior that Russia could nonetheless earn sizeable revenue from oil and gas gross sales somewhere else. His remarks echo issues elevated earlier in the 7 days by Treasury Secretary Janet Yellen as the European Union and U.S. talk about how to reduce the challenging forex Russia derives from oil-and-gasoline income to Europe.

“A comprehensive embargo only presents Russia further income since I believe that the rate of oil and gasoline will surge to monumental concentrations,” Mr. Marchenko reported. “This is why they consider to use much more sophisticated applications like taxation.”

Mr. Marchenko explained in the job interview that revenue collected on a possible tariff could be utilized to help Ukraine in the war hard work and that he understood the EU may not go after a whole embargo. In addition to inserting a tariff on oil-and-gas imports, European and U.S. officials have reviewed the chance of positioning payments for Russian electrical power in escrow.

“As lengthy as they concur on some thing that’s better for us mainly because time is so vital for us. A rapid decision can assist us acquire this war,” he mentioned.



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