Foreign Trade
UK Softens New Restrictions on Russia-Linked Fuel Imports
The UK is slowing implementation of a planned ban on refined-product imports derived from Russian oil, keeping the door open for jet fuel imports from Turkey and India. The government has issued limited licenses for importation of Russian oil-derived fuel products to avoid disruption in the domestic fuel market. The UK received only five million barrels of such fuel in 2024, worth less than a billion dollars per year. Former British Airways chief Willie Walsh warned that rising global jet fuel prices would mean inevitable fare increases for Britons.
