UK eases some Russia-linked sanctions

In a widely unexpected move, the UK government has waived some sanctions on imports of fuels processed from Russian-origin crude in third countries.

IMAGE: Getty Images

The UK’s presiding Labour government has argued that its decision to partially ease sanctions on Russian oil products is aimed at safeguarding supply security.

The “time-limited” waiver in the UK’s sanctions regime will “protect the security of supply for really important foundational goods in our economy,” the UK’s treasury minister Dan Tomlinson said in an interview with the BBC.

Since Russia’s invasion of Ukraine in 2022, European countries have imposed sweeping sanctions targeting Russian energy exports, banking and shipping sectors.

The measures have included restrictions on Russian crude and oil product imports, aimed at curbing Moscow’s revenue streams and increasing economic pressure.

The UK’s decision to allow some import of fuels refined from Russian-origin crude comes days after the US Department of Treasury extended a Russia sanctions waiver, permitting sales of Russian oil already at sea for an additional 30 days through 17 June.

The US introduced the first waiver in March, allowing sanctioned Russian crude already loaded onto tankers to be sold as oil prices surged following the Iran conflict.

 By Aparupa Mazumder

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