The British government has applied an exception to sanctions against Russia, allowing imports of diesel and aviation fuel made from Russian crude oil in third countries.
Points of attention
- Britain has granted an exception to sanctions against Russia, permitting the import of petroleum products made from Russian crude oil to third countries, citing concerns over the blockade of the Strait of Hormuz and increased financial pressure on Moscow.
- The sanctions exemption, effective immediately, comes amidst worries about fuel supply disruptions caused by the ongoing conflict involving the United States, Israel, and Iran.
Britain eases oil sanctions against Russia
The sanctions exemption takes effect on Wednesday and reflects heightened concerns about the supply of certain fuels due to the blockade of the Strait of Hormuz since the start of the war between the United States, Israel and Iran.
It is noted that the license allows imports for an indefinite period and will be periodically reviewed by the British government.
The UK banned imports of petroleum products produced in third countries from Russian crude oil last October, in an attempt to increase financial pressure on Moscow.
The decision came after the United States announced on May 18 a temporary extension of sanctions relief on Russian oil stuck at sea to cushion the rise in global prices.
Recall, this is a temporary easing of sanctions against Russian oil in tankers. The United States first took this step on March 12 in an attempt to alleviate the oil supply shortage and regulate high prices caused by Iran's closure of the Strait of Hormuz.
European Commissioner for Economic Affairs Valdis Dombrovskis on May 19 criticized the US decision to extend the exemption from sanctions on the sale of Russian oil.
