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trade license that came into effect Wednesday permits the import
of Russian oil that has ben refined into jet fuel and diesel in
third countries, such as India and Turkey.
The U.S.-Israeli war on Iran and Iran's closure of the strait,
through which about a fifth of the world's oil usually passes,
has sent fuel prices soaring around the world and sparked
concerns about a shortage of jet fuel.
U.K. Treasury minister Dan Tomlinson said the changes are “for a
time limited period and on a very specific issue.”
Britain has been one of Ukraine's strongest allies since
Russia's full-scale invasion in 2022, and the government insist
its sanctions against Russia remain among the toughest in the
world.
But lawmaker Emily Thornberry, who chairs Parliament’s Foreign
Affairs Committee, said Ukrainians would “feel very let down” by
the move. She said Ukraine’s allies should keep squeezing
Russia’s oil industry, because it “is absolutely crippling their
economy.”
The U.S. 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., Britain and the
other Group of Seven wealthy 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.”
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