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June 25
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The US plans to pitch the idea of ​​tariffing Russian oil to Europe at this week's G7 finance ministers' meeting as a faster alternative to an outright oil embargo, Reuters reported with reference to representatives of the US Treasury.

EU officials are now considering a phased embargo on Russian oil, but concerns from Eastern European countries over supplies represent a major impediment to those plans.

The tariff mechanism will be designed to keep Russian oil on the market but limit the amount of revenue that can flow to Moscow from exports, finance ministry officials told reporters in Brussels ahead of a meeting of G7 finance ministers and central bank governors this week.

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