Russia: Oil
The question
To ask the Secretary of State for Foreign, Commonwealth and Development Affairs, whether he has had discussions with the Secretary of State for Energy Security and Net Zero on the potential merits of dis-investing from oil products which originated from Russian-based crude oil.
Answered by Stephen Doughty
The Foreign, Commonwealth and Development Office works closely with the Department for Energy Security and Net Zero to ensure the effective design and implementation of relevant sanctions. The action the UK and its partners have taken to limit Russian energy revenues is having a significant impact, including reducing Russia's oil and gas revenues by 24% in 2023 compared to 2022. We are exploring further options to strengthen our sanctions, including in the energy sector.
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