EMEA News
UK Allows Imports of Certain Russian Refined Products Produced in Third Countries
The UK has introduced a new trade licence permitting imports of diesel and jet fuel refined from Russian crude oil in third countries.
The General Trade Licence took effect on May 20 under amendments to the UK’s Russia sanctions regime, according to a updated guidance issued by the UK Government on Tuesday.
The licence covers diesel and jet fuel processed from Russian crude oil in third countries, despite wider UK restrictions targeting Russian oil flows.
The move comes amid supply disruptions linked to the Iran conflict and would allow the UK to import products from countries such as India and Turkey that buy Russian crude and refine it into fuels, including diesel.
The UK government said the measures are intended to prevent Russian oil from entering the country indirectly through overseas refineries.
The guidance also clarified that vessels entering UK ports are not required to verify the origin of crude oil used to produce bunker fuel carried onboard for operational use during the voyage.
“Vessels entering UK ports are not required to verify the origin of the crude oil used for processing the bunker fuel, as long as the bunker fuel is required for the operation of the vessel pursuing the voyage,” the guidance states.
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Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 963.00 | 26.00 | 1351.50 | 10.50 |
| Rotterdam | 766.00 | 3.00 | 1446.00 | 11.50 |
| Houston | 817.00 | 11.50 | 1421.00 | 1.00 |
| Fujairah | 981.00 | 12.00 | 1768.50 | 17.50 |
| EMEA Average | 917.50 | 14.00 | 1740.00 | 21.00 |
| Global 20 Ports Average | 929.50 | 10.50 | 1565.00 | 13.00 |
| Global 4 Ports Average | 882.00 | 13.50 | 1496.50 | 9.50 |
| Global Average Bunker Price | 978.50 | 20.00 | 1616.50 | 18.50 |
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