London, United Kingdom. Britain will allow the import and provision of services linked to diesel and jet fuel refined abroad from Russian crude under a new general trade licence that exempts specific products from sanctions restrictions. The government also issued a separate time-limited licence covering maritime transportation of liquefied natural gas and related services under Russia sanctions rules.
General trade licence for refined fuels
The licence issued on Tuesday grants exemptions where the fuels are processed in third countries. It includes conditions such as record-keeping requirements for companies.
Start date and duration
The new rules take effect on Wednesday and will be of indefinite duration. The government said in a notice that the measures will be reviewed periodically and can be amended or revoked.
Separate licence for LNG maritime transportation
Britain issued a time-limited licence covering the maritime transportation of liquefied natural gas and related services under Russia sanctions rules. The licence runs until January 1 next year.
How will the new licences affect companies involved in importing refined fuels or providing related services?