Britain will join the United States to stop imports of Russian oil and related products to increase economic pressure on Russia following the invasion of Ukraine.
The move, announced Tuesday by British business secretary Kwasi Kwaten, follows the Russian financial system and other sanctions on Russian President Vladimir Putin’s inner circle individuals.
Russia’s oil and related products will be phased out of British imports by the end of 2022, he said.
Kwasi Kwaten said a new task force will also be set up to help businesses find “alternatives.”
In a statement posted on Twitter, he said, “This transition will give markets, businesses and supply chains enough time to replace Russian imports, which account for 8% of UK demand. “.
Kwasi said it is also considering ending Russia’s supply of natural gas to Britain. This accounts for 4 percent.
He said Britain is a “significant producer” of oil and petroleum products and has “significant reserves.”
US President Joe Biden made a parallel announcement a few minutes later, warning Americans that sanctions would affect the US economy and “protect freedom would be costly.”
British Prime Minister Boris Johnson has also suggested that British people will experience more pain with gasoline pumps whose prices are already soaring.
Mr Johnson said Britain was “less exposed” than some European countries, but it was not possible to drop Russia from supplies overnight.
Talking to a London broadcaster, Johnson said: [than European allies] But obviously we have diesel from Russia and can’t move overnight. “
“You can do that in a way that doesn’t interfere with supply. This will not impact your business in the UK and will be in the UK manufacturing, road transport, or other parts of our industry, but the Vladimir Putin administration. Will be punished. “
The decision to expel Russia from the oil supply was made shortly before Ukrainian President Volodymyr Zelensky appeared on a video link in front of a packed British parliament to address the plight of his country.
Quoting from Shakespeare, in other words Churchill, Zelensky again sought to stir up support for the no-fly zone and asked Britain to “confirm that the Ukrainian sky was safe.”
Zelensky personally thanked Johnson for his support.
“For centuries of parliamentary democracy, the House of Representatives has never listened to such a speech,” Johnson said.
PA Media contributed to this report.
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Simon Veazey is a UK-based journalist who has been reporting on the Epoch Times since 2006 on a variety of beats, from detailed coverage of British and European politics to web-based writing of the latest news.