Russia reported on Monday that the world’s oil sector is in considerable decline as a result of the United States ‘” Liberation Day” taxes being implemented in a number of nations.
Trading data indicates that the price of a June 2025 delivery under the ICE, Brent crude oil futures contracts fell below$ 63 per barrel at 10.08 am Moscow time ( 7.08 am GMT ), which is the lowest level since April 12, 2021, on London’s ICE.
During a briefing, Kremlin Spokesman Dmitry Peskovsaid, “This indicator is very important for replenishment of our budget. We are monitoring closely the situation, which is currently extremely turbulent, tense and emotionally charged. This is related to the US’ decision to impose tariffs on the majority of countries of the world.”
Peskov assured that Russian government are taking steps to safeguard the country’s economy from fluctuations in the world market.
185 nations and territories were subject to tariffs on April 2 from US President Donald Trump, despite the fact that Russia was exempt from any additional regulations.
Press secretary Karoline Leavitt responded to questions by explaining to Axios that Russia’s absence was a result of current US restrictions that “preclude any significant trade.”
On April 5, the US administration started introducing universal tariffs of 10 %, with certain tariffs scheduled for April 9. Moreover, all imported cars were subject to a 25 % customs duty starting April 3. Trump moreover declared a national financial crisis.
