UK vows to phase out Russian diesel and jet fuel imports by new year (opens original article in a new tab)

UK vows to phase out Russian diesel and jet fuel imports by 2027 as part of sanctions against Russia, with temporary import licence reviews every two weeks.

• UK government commits to ban Russian diesel and jet fuel imports by 1 January 2027 as part of sanctions against Russia.
• Temporary import licence for diesel and jet fuel will be reviewed every two weeks with potential early revocation.
• Global oil prices rise due to US-Israel conflict with Iran affecting Strait of Hormuz trade.