UK eases sanctions on Russian oil imports as fuel prices soar
Summary
The UK government has eased sanctions to allow imports of Russian jet fuel and diesel refined in other countries due to rising fuel prices linked to the Iran war and the closure of the Strait of Hormuz. This new permission is open-ended but will be reviewed regularly, and it follows a US decision to extend a similar waiver on Russian oil.Key Facts
- The UK now allows imports of Russian jet fuel and diesel refined in countries like India and Turkiye.
- This trade licence started Wednesday and has no fixed end date but will be checked periodically.
- The UK also gave a temporary licence for some Russian liquefied natural gas imports.
- Previous UK sanctions targeted thousands of Russian individuals, companies, and oil exports after Russia invaded Ukraine in 2022.
- The US extended a waiver allowing Russian oil shipments already on the sea to enter its markets, citing disruptions from the Iran conflict.
- The European Union and some officials criticized the easing of sanctions, saying it reduces pressure on Russia.
- The UK government said the changes are limited in time and specific to this situation.
- Opposition Conservative leader Kemi Badenoch criticized the UK government for relaxing sanctions after supporting Ukraine for 18 months.
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