The United Kingdom government has quietly relaxed some sanctions on Russian oil to help Britons cope with rising fuel costs triggered by the closure of the Strait of Hormuz. A trade license effective Wednesday permits the import of Russian oil that has been refined into jet fuel and diesel in third countries such as India and Turkey.
Sanctions Eased Amid Geopolitical Tensions
The U.S.-Israeli war with Iran and Iran's subsequent closure of the Strait of Hormuz—through which roughly one-fifth of the world's oil typically passes—have sent fuel prices soaring globally and raised concerns about jet fuel shortages. UK Treasury Minister Dan Tomlinson stated that the changes are "for a time-limited period and on a very specific issue."
Britain has been one of Ukraine's staunchest allies since Russia's full-scale invasion in 2022, and the government insists its sanctions against Russia remain among the toughest globally. However, Labour MP Emily Thornberry, chair of Parliament's Foreign Affairs Committee, said Ukrainians would "feel very let down" by the move. She argued that Ukraine's allies should continue squeezing Russia's oil industry because it "is absolutely crippling their economy."
International Context
The United States has also eased Russian sanctions. Earlier this week, Treasury Secretary Scott Bessent extended a 30-day sanctions waiver allowing the purchase of Russian oil shipments already at sea. On Tuesday, finance ministers from the U.S., UK, and other G7 nations issued a joint statement reaffirming "our unwavering commitment to continue to impose severe costs on Russia in response to its continued aggression against Ukraine."
The move underscores the delicate balance Western nations face between maintaining pressure on Russia and protecting their own economies from energy price shocks.
