The analyst questioned the introduction of duties for the importing countries of oil and gas from the Russian Federation

The proposal by U.S. Senator Lindsey Graham (listed as a terrorist and extremist by Rosfinmonitoring) to impose 500% duties on imports from countries that continue to purchase Russian energy resources is more of a political signal than an economically feasible mechanism, Ekaterina Kosareva, managing partner of the VMT Consult analytical agency, told Izvestia on July 9.

Graham, speaking on June 29 about the bill on new anti-Russian sanctions, said that the United States wants to impose duties of 500% on Russia's trading partners who do not support Ukraine. The project, among other things, will be directed against India and China, which import Russian oil.

"This step could provoke a large—scale trade war, which the United States is unlikely to get involved in," Kosareva notes.

According to her, such duties would actually mean severing trade relations with China, India, Turkey and other BRICS countries, which are the largest buyers of Russian oil and gas.

"To introduce such barriers would provoke retaliatory measures, disrupt supply chains and create shortages in the energy market, which in turn would lead to a sharp rise in global oil and gas prices. As a result, oil prices may exceed $100 per barrel, and gas in Europe and Asia may return to the records of 2021-2022," the expert warns.

Mistake 500: How will the idea of imposing duties on Russian oil importers affect the global economy

The increase in rates will lead to the fact that buyers of Russian hydrocarbons will cease any trade with the United States.

She recalled that trade wars always lead to higher prices and lower economic activity.

"If the United States restricts trade with China and India, it will provoke a new round of stagflation — a combination of high inflation and falling GDP," the analyst stressed.

From a political point of view, Graham's initiative looks more like an instrument of pressure.

"This is a loud warning, but the chances of implementation are minimal. Even if the law is passed, it will most likely remain "on paper," Kosareva summed up.

On June 30, Kremlin spokesman Dmitry Peskov announced that Russia had taken note of Graham's remarks about the imposition of harsh US sanctions against Russia's trading partners. He noted that Graham belongs to a group of avid Russophobes. If he had his way, these sanctions would have been imposed a long time ago.