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
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Ryanair says fuel-shortage risk is receding as suppliers adapt to Strait of Hormuz closure
Ryanair says the risk of jet-fuel shortages is receding as suppliers adapt to the closure of the Strait of Hormuz, easing one of the main concerns hanging over the airline's summer outlook. The comments came as Europe's largest airline by passenger numbers reported annual results and warned that consumer anxiety linked to the US-Israeli war on Iran could still weigh on fares. The company said pricing for the July-to-September period is now trending broadly flat, rather than rising as it had previously expected.Chief financial officer Neil Sorahan said the airline is increasingly confident there will be no disruption to jet-fuel... [Continue Reading]
360LiveNews | 18 May 2026 08:00 LONDON
