Politico said the UK will ban imports of Russian oil, in a move that is expected to be a gradual phase-out over time rather than a sudden overnight shock.
Announcing the measure at 1:00 PM ET and passing the ban and phased implementation period, which is expected to last about a year, is expected to try to prevent people from panic-buying fuel at a time when energy prices are skyrocketing. .
Politico reports that there will be no simultaneous ban on Russian gas, but this is still being discussed within the government.
LONDON (Reuters) – British Prime Minister Boris Johnson said yesterday his government will develop a new energy supply strategy as Russia’s invasion of Ukraine and the ensuing surge in energy prices have accelerated the need for new energy sources and increased self-sufficiency.
Earlier on Tuesday, oil prices rose amid expectations that the United States will announce a formal ban on Russian oil imports.
The European Commission on Tuesday published plans to reduce the European Union’s dependence on Russian gas by two-thirds this year and end its dependence on Russian gas supplies “well before 2030”.
Emily Brontë is a journalist and feature writer specialising in culture, entertainment, literature, and current affairs. She is dedicated to producing clear, accurate reporting that helps readers stay informed about developments in the UK and around the world.
