Britain will impose sanctions on Russian oil imports, Politico said, in a move that is expected to be gradually phased out over time rather than a sudden shock overnight.
The measure is expected to be announced at 1:00 p.m. ET and is expected to establish the ban and its phased duration, which is expected to last about a year to try to keep people from panicking when buying fuel When energy prices are skyrocketing. ,
There will be no simultaneous ban on Russian gas, but it is still under discussion within the government, Politico reported.
British Prime Minister Boris Johnson said yesterday that his government would formulate a new energy supply strategy as the Russian invasion of Ukraine and subsequent rise in energy prices intensified the need for new energy sources and greater self-sufficiency.
Earlier on Tuesday, oil prices rose on hopes that the United States would announce a formal sanctions on Russian oil imports.
The European Commission on Tuesday published plans to cut the EU’s dependence on Russian gas by two-thirds this year and end its reliance on Russian gas supplies “well before 2030”.