Oil production. Archival photoMOSCOW, June 4Inflation and a price shock are expected to rise in the European Union after the decision to start phasing out Russian oil imports, Guntram Wolf, head of the Bruegel Research Center in Brussels, told Spiegel magazine. In his opinion , for Europe, this could be the «worst-case scenario» as European companies and consumers will soon suffer from high prices for the resource, which are likely to rise further.» Governments may try to soften the price shock with discounts at gas stations, lowering taxes and subsidies, as they did in previous months. This can increase the national debt, «the publication quotes Wolf. The economist believes that the embargo will only reduce Russia's oil revenues in the long term. In turn, the head of the Energy Comment analytical center, Steffen Buchold, predicts that Moscow will find new buyers, mainly in Asia. horror,” the publication says. The EU Council on Friday finally approved and published in the official journal the sixth sanctions package against Russia due to the start of a special operation in Ukraine. by sea for six months, oil products for eight months, with the exception of pipeline oil, as long as Europe continues to receive supplies via the Druzhba pipeline. /wp-content/uploads/2022/06/23ec9ce33b54b2012e6ddb1636bd0203.jpg» />The United States saw the benefit of Russia in the European oil embargo
