Story perspectives

UK Grants Russian Crude Licence Amid Record Petrol Prices

5/20/2026

Summary

Story summary

Department for Business and Trade issued a licence for Russian crude refined in India and Turkey.
Petrol prices rose to 158.5p per litre, the highest since December 2022.
Conservative Party leader Kemi Badenoch called the licence “insane”.
Foreign Affairs Committee chair Emily Thornberry said Ukraine is disappointed and urged stronger sanctions.
A temporary licence allows Russian LNG maritime transport until 1 January 2027 to protect national interest during the Iran conflict.

History

Historical Context

Following the 2014 annexation of Crimea, the EU and US imposed sanctions on Russian energy, and a 2022 EU ban on sea-borne Russian oil reduced imports by about 1 million barrels per day. Today, a temporary licence permits Indian and Turkish refineries to process Russian crude, reviving the exemption debates that first arose after the 2014 measures.

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Story summary

Department for Business and Trade issued a licence for Russian crude refined in India and Turkey.
Petrol prices rose to 158.5p per litre, the highest since December 2022.
Conservative Party leader Kemi Badenoch called the licence “insane”.
Foreign Affairs Committee chair Emily Thornberry said Ukraine is disappointed and urged stronger sanctions.
A temporary licence allows Russian LNG maritime transport until 1 January 2027 to protect national interest during the Iran conflict.

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