UK to ban Russian oil imports - Politico
Britain will ban Russian oil imports, Politico reported citing Whitehall officials, a move expected to be a gradual phasing out over time rather than an overnight sharp shock.
The move is expected to be announced at 1600 GMT and will lay out the ban and its phase-in period, which is expected to last about a year to try to stop people panic-buying fuel at a time when energy prices are rocketing.
There will not be a ban on Russian gas at the same time, but this is still under discussion within the government, Politico reported.
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British Prime Minister Boris Johnson said on Monday his government would set out a new energy supply strategy as the Russian invasion of Ukraine and subsequent rally in energy prices accelerate the need for new energy sources and greater self-reliance.
Earlier in the day, oil prices rose on expectations that the United States will announce a formal ban on Russian oil imports.
The European Commission published plans on Tuesday to cut the EU's dependency on Russian gas by two-thirds this year and end its reliance on Russian supplies of the fuel "well before 2030"
