UK loosens sanctions on Russian-refined fuel as prices rise
The UK has loosened sanctions on Russian oil products refined in third countries, in a move that affects diesel and jet fuel imports. The waiver begins on Wednesday and comes as fuel prices rise and supply concerns grow. The government also lifted some sanctions on the transport of Russian liquefied natural gas, or LNG.Officials said the overall sanctions regime remained tougher, but that extra flexibility was needed. The change applies to processed oil products made from Russian crude outside Russia, including fuel refined in places such as India and Turkey. The new rules for sanctioned processed oil products will run... [Continue Reading]
360LiveNews | 20 May 2026 03:30 LONDON
Sponsored
Japan and South Korea launch new energy cooperation framework
Japan and South Korea agreed Tuesday to launch a new energy cooperation framework and establish a policy dialogue on supply security, according to Kyodo News. Japanese Prime Minister Sanae Takaichi and South Korean President Lee Jae Myung said they will deepen cooperation on crude oil, petroleum products and liquefied natural gas. The meeting took place in Andong in southeastern South Korea, Lee's hometown. Takaichi said the two countries will jointly work to secure robust supply chains for critical minerals. Lee told a joint event that the possibilities for bilateral cooperation are "limitless." Under the envisaged Japan-South Korea policy dialogue scheme,... [Continue Reading]
Breaking-360LiveNews | 20 May 2026 01:30 LONDON
