UK eases sanctions on Russian oil imports as fuel prices soar

Key points

• This sanction waiver will allow the UK to import Russian crude oil refined in third countries, such as India and Turkiye.
• The United Kingdom government said it had eased sanctions on imports of Russian jet fuel and diesel refined in third countries, amid soaring fuel prices caused by the Iran war and prolonged closure of the Strait of Hormuz.
• The trade licence that came into effect on Wednesday is of “indefinite duration”, according to the UK’s Department for Business and Trade, and will be periodically reviewed.
• It will allow the UK to import Russian crude oil refined in third countries, such as India and Turkiye.
• The government also issued a temporary licence loosening sanctions on liquefied natural gas originating from certain Russian plants.