Overview
- The government confirmed a temporary licence that now allows diesel and jet fuel refined from Russian crude to be imported via third countries will expire no later than January 1, 2027.
- The licence will be reviewed every two weeks and can be ended earlier if conditions allow, giving ministers flexibility to tighten the ban sooner.
- Ministers have pledged to give industry at least four months' notice of any change to the licence to limit supply disruption and help firms find alternative sources.
- The deadline builds on a May 20 restriction that banned refined oil made from Russian crude in third countries and forms part of a wider sanctions package that includes new limits on LNG maritime services.
- Officials say the move is intended to choke off revenue for Putin’s war machine; the government notes it has sanctioned more than 3,300 targets and says international measures have deprived Russia’s economy of over $450 billion.