The UK will phase out “the import of Russian oil and oil products by the end of 2022,” UK Business and Energy Secretary Kwasi Kwarteng said Tuesday.
“This transition will give the market, businesses and supply chains more than enough time to replace Russian imports – which make up 8% of UK demand,” he said on Twitter.
Kwarteng added that the government will work with companies to support them in finding alternative supplies.
“The UK is a significant producer of oil and oil products, plus we hold significant reserves. Beyond Russia, the vast majority of our imports come from reliable partners such as the US, Netherlands and the Gulf. We’ll work with them this year to secure further supplies,” Kwarteng said.
He added that while the UK is not dependent on Russian natural gas, it only makes up 4% of UK supply, he is exploring options to end this altogether.
Read his tweets: