Ecuador bumps up tariffs on crude oil transported from Colombia by 900%

CARACAS/ISTANBUL

Ecuador announced Tuesday it increased tariffs on crude oil transported from Colombia by 900% in response to Bogota’s decision to stop electricity exports from Feb. 1.

The tariff paid by Colombia for each barrel passing through the Trans-Ecuadorian System Oil Pipeline System (SOTE) thus rose from $3 to $30.

Bogota has yet to make any statements on the decision.

The two neighbors have been in disagreement due to a lack of cooperation amid ongoing operations against drug cartels and border security.

Bogota on Jan. 23 said it will suspend electricity exports to Ecuador starting in February.

Ecuadorian President Daniel Noboa had announced a 30% tariff on products imported from Colombia on Jan. 22, saying the country did not receive enough support in the fight against drugs.