Fund manager Pierre Andurand has suggested that European governments should impose a 100 per cent tax on Russian oil rather than banning its import completely, according to to a report by Bloomberg Quint.
Andurand’s idea, which he shared via Twitter, is that countries unable to source alternative supplies could buy Russian oil at a discount of 50 per cent to compensate for the additional tax, which would hurt Russian oil revenues while ensuring European supplies.
Andurand’s commodity fund made 109 per cent in the first three months of the year.
