UK to phase out import of Russian oil and oil products by the end of 2022 By Frank_Macro UnitedKingdom RussianFederation Oil
Reuters on Tuesday. This transition will give the market, businesses and supply chains more than enough time to replace Russian imports, which currently make up 8% of UK demand. Businesses should use this year to ensure a smooth transition so that consumers will not be affected, the statement continued, adding that the government will also be working with companies through a new task force on oil to support them to make use of this period in finding alternative supplies.
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