Liquefied Natural Gas and Oil: Russia
The question
To ask the Secretary of State for Business and Trade, pursuant to the Answer of 1 June 2026 to Question 3663 on Liquefied Natural Gas: Russia, what assessment he has made of the potential impact of the general trade licences for refined oil and liquid natural gas on the level of (a) (i) targeted and (ii) temporary flexibility to safeguard UK energy supply and (b) global market stability.
Answered by Chris Bryant
On 20 May 2026, the UK introduced new sanctions to further target Russian revenues and degrade its ability to wage its illegal war in Ukraine. Alongside these measures, general trade licences for refined oil and liquid natural gas (LNG) were issued to ensure a managed and phased implementation of complex restrictions. We will continue to assess the energy market and maintain communication with industry.
I committed to fortnightly review of these licences, which will expire on 1 January 2027. This review will consider the impact of the licences on UK energy supply and global markets.
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