The Russian Foreign Ministry estimated the consequences of a possible US imposition of duties at 500%

The bill in the US Senate on the introduction of duties of 500% on imports from countries that purchase energy resources from the Russian Federation, if adopted, is highly unlikely to lead to the refusal of other states from trade with Russia. This was announced on June 21 by Russian Deputy Foreign Minister Alexander Pankin.

"I know that there is such a bill, and supposedly there is broad support — more than two thirds [of senators]. The United States itself has appropriate procedures in place for such bills to pass and be able to enter into force. This is a very tough project. If the effect is designed for everyone to stop trading with Russia, then it is unlikely that this will happen, because it is unprofitable for the oil market, first of all," he told RIA Novosti on the sidelines of the St. Petersburg International Economic Forum (SPIEF).

Pankin added that the US leadership had speculated about a serious negative effect for the country itself and for the global market if this bill came into force.

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On June 5, German Chancellor Friedrich Merz said that US import duties pose a threat to the German economy. Merz added that Berlin is looking for ways to reduce them. Germany and the United States are expected to appoint representatives to conduct the relevant negotiations.