Ecuador imposes new tariffs on Colombian oil

Ecuador on Thursday announced it would impose tariffs on the transport of Colombian oil, as trade frictions escalate between the South American nations.

Earlier on Thursday, Colombia said that it will impose a 30-percent tariff on 20 products imported from Ecuador, and suspend international electricity transactions with Ecuador as a preventive measure to protect national energy sovereignty and security.

Colombian Minister of Mines and Energy reaffirmed Colombia's commitment to regional integration, while stressing that any cross-border energy exchange must be conducted under conditions of security, equity and good faith.