Tuesday, March 8, 2022

UK to Stop Importing Russian Oil & Oil Products by End of 2022, Energy Minister Says - Sputnik International

The UK will stop importing Russian oil and oil products by the end of 2022, the country's Business and Energy Secretary Kwasi Kwarteng said.

According to Kwarteng, "this transition will give the market, businesses and supply chains more than enough time to replace Russian imports, which make up 8 percent of UK demand".

"The government will also work with companies through a new Taskforce on Oil, to support them to make use of this period in finding alternative supplies," the British Business and Energy Secretary added.
His statement came shortly before US President Biden announced a ban on Russian oil imports, adding that the decision was made in close consultation with allies, including in Europe.

The decisions by both the UK and the US were made at a time of high volatility in the international energy market, caused by a wave of unprecedented sanctions against Russia over its special military operation in Ukraine. 

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1 comment :

  1. Borrell: EU Does Not Intend to Ban Russian Energy Imports

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