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UK vows to phase out Russian diesel and jet fuel imports by new year
June 13, 2026
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UK vows to phase out Russian diesel and jet fuel imports by new year

Money
Growth

Key Points

  • The UK government has committed to banning imports of diesel and jet fuel made from Russian oil by January 1, 2027.
  • This ban is part of the UK's package of sanctions against Moscow following the war in Ukraine.
  • The prohibition extends to refined products made from Russian crude oil in third countries, with a temporary import licence under fortnightly review.
  • The decision has drawn criticism for potentially providing billions in financing to Russia's war machine due to the delayed full implementation.
  • Global oil prices have recently risen, with Brent crude increasing from around $70 to $87 per barrel, partly due to the US/Israel-Iran conflict impacting trade routes.

Why This Matters

While this article focuses on UK sanctions, the global oil price fluctuations it highlights are highly relevant to Ghana. As an oil-importing nation, increased prices for diesel and jet fuel directly translate to higher domestic fuel costs, impacting transportation, industrial operations, and overall inflation for Ghanaian citizens and businesses.

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