Story perspectives

UK Approves Russian Fuel Imports, Zelensky Says War Funding

5/21/2026

Summary

Starmer Approves Licences

Prime Minister Sir Keir Starmer approved three-month licences to import Russian jet fuel and diesel.
President Volodymyr Zelenskyy warned the licences could fund Russia’s war.
MP Oleksiy Goncharenko called the decision deeply disappointing for the UK-Ukraine partnership.
Conservative Party leader Kemi Badenoch said the government is buying dirty Russian oil that will fund Ukrainian casualties while UK claims sanctions have cost Russia $450 billion, including $154 billion in lost oil tax revenue.

Summary

G7 Targets Russia

U.S. sanctions waiver gave Russia $150 million daily, totaling over $4 billion.
Jet fuel price spikes lifted airline ticket costs and disrupted schedules.
Ukrainian forces struck a Lukoil refinery and oil pumping station on 18-19 May in Kyiv’s sanctions campaign.
G7 finance ministers and central bank governors met in Paris on 18-19 May 2026, pledging pressure on Russia’s energy and finance sectors, while the Oil Price Cap Coalition studies market conditions for oil price caps.

Summary

Reeves Cancels Duty

Chancellor Rachel Reeves is expected to drop the fuel-duty increase after the government issued a sanctions waiver that allows diesel and jet fuel refined in hubs such as India and Turkey.
A licence for Russian LNG transport until 1 January 2027 was announced as Brent crude hovered near $110 a barrel, showing strain from the Hormuz blockade.
The UK has not seized shadow-fleet vessels despite pledges to crack down, exposing a gap.

History

Historical Context

After Russia’s full-scale invasion on 24 February 2022, the United States and EU froze roughly $300 billion of Russian sovereign assets and barred crude exports, cutting oil revenues by about $15 billion that year. Sir Keir Starmer’s new diesel licences echo those 2022 debates, while President Volodymyr Zelenskyy warns they could fund Moscow’s war, prompting G7 ministers to push caps before the licences lapse in 2027.

1 of 4

Starmer Approves Licences

Prime Minister Sir Keir Starmer approved three-month licences to import Russian jet fuel and diesel.
President Volodymyr Zelenskyy warned the licences could fund Russia’s war.
MP Oleksiy Goncharenko called the decision deeply disappointing for the UK-Ukraine partnership.
Conservative Party leader Kemi Badenoch said the government is buying dirty Russian oil that will fund Ukrainian casualties while UK claims sanctions have cost Russia $450 billion, including $154 billion in lost oil tax revenue.

1 / 4