UK to fully ban Russian diesel and jet fuel imports by 2027

The new restrictions build upon sanctions previously introduced on May 20, which prohibited the import of refined oil products manufactured from Russian crude in third countries. To facilitate a smooth transition for the industry, the U.K. government has issued a temporary license permitting certain imports to continue while the phased implementation of the restrictions takes place.

This license is scheduled to expire no later than January 1, 2027. The British government stated it would conduct bi-weekly reviews of the arrangement and could lift the license sooner if deemed appropriate. U.K. Trade Minister Chris Bryant emphasized that the sanctions regime is being intensified to restrict Russia's capacity to fund the war, sending a clear message of maximum pressure.

Foreign Office Minister Stephen Doughty affirmed that these measures are designed to prevent refined oil originating from Russian crude from entering the U.K. via third-party nations. He stated that the U.K. is increasing pressure on the Putin regime and cutting off the financial resources fueling the conflict in Ukraine.

The British government reiterated its commitment to standing with Ukraine and collaborating with international partners to maintain economic pressure on Russia and degrade its military capabilities. The restrictions on refined oil are integrated into a wider sanctions package that also targets Russia's liquefied natural gas sector and other methods used to circumvent Western sanctions.

According to the U.K. government, its Russia sanctions regime has led to the sanctioning of over 3,300 individuals, companies, and vessels since the full-scale invasion commenced. The statement also noted that international sanctions have resulted in Russia's economy losing more than $450 billion. This latest announcement coincides with the U.K.'s continued expansion of support for Ukraine, including a pledge of an additional 100 million pounds for air defense systems in March.