Argentina Reinstates Export Taxes as Russian Crude Floods the Water, Refining Margins Explode
Argentina has reapplied export taxes on grains and by-products after briefly lifting them upon reaching a $7 billion sales cap, ARCA confirmed Wednesday. This move reflects not only U.S. pressure but also Buenos Aires’ ongoing liquidity crisis. With $1 billion already spent defending the peso, the government now appears to be shifting stress into budgetary accounts while still maintaining the dollar peg—setting the stage for more instability ahead.
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