Ukraine ally Britain eases sanctions on Russian oil as fuel prices surge over Iran conflict

Published on 5/20/2026, 12:34:58 PM

Key points

The U.K.
government has quietly watered down sanctions on Russian oil in an effort to shelter Britons from the cost-of-living squeeze triggered by the closure of the Strait of Hormuz.
A trade license that came into effect on Wednesday (May 20, 2026) permits the import of Russian oil that has been refined into jet fuel and diesel in third countries, such as India and Turkey.
The U.S.-Israeli war on Iran and Iran's closure of the strait, through which about a fifth of the world's oil usually passes, has sent fuel prices soaring around the world and sparked concerns about a shortage of jet fuel.
Treasury Minister Dan Tomlinson said the changes are “for a time limited period and on a very specific issue”.

Quick context: government has quietly watered down sanctions on Russian oil in an effort to shelter Britons from the cost-of-living squeeze triggered by the closure of the Strait of Hormuz.

Published May 20, 2026.

📌 Source: The Hindu

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