We are cracking down on Russia’s oil exports while protecting consumers by:
- Phasing out all imports of Russian oil and oil products by the end of the year, cutting off a key source of funding for Putin’s regime while limiting the impact on consumers. We are phasing out all imports of Russian oil and oil products by the end of 2022 – giving businesses enough time to ensure a smooth transition so that consumers will not be affected and working with them this year to secure further supplies.
- Exploring options to end the UK’s imports of Russian gas while we accelerate our move towards renewable energy, in line with action taken by our international allies. We are not reliant on Russian gas as we currently import only four per cent of our gas from Russia, but the Kremlin is the largest exporter and controls the market – which is why we are focusing on generating cheaper, cleaner renewable and nuclear power and exploring options to end these imports.
- The Prime Minister hosted a roundtable of UK energy industry leaders, discussing plans to strengthen our energy security by boosting supplies of domestic oil and gas. The Prime Minister hosted a roundtable of leaders in the UK’s offshore oil and gas industry on 14 March to discuss domestic energy security, with plans to increase investment in the North Sea oil and gas industry and boost supply of domestic gas.