The United Kingdom is taking precautions against a potential fuel shortage due to its high dependence on jet fuel imports and the impact of the crisis in the Strait of Hormuz, which has led to a tightening global supply. The British government has decided to gradually implement the planned import ban on refined products derived from Russian oil to ensure that airlines can continue their operations. Thus, the import of jet fuel from Turkey and India will continue for the time being.

The ban on foreign refined products derived from Russian oil was announced last October as part of a sanctions package targeting Russian energy companies. However, it is reported that the economic impact of the ban is limited. According to Global Witness data for 2024, the United Kingdom imported approximately five million barrels of fuel produced from Russian crude oil. A significant portion of this import consisted of jet fuel. Despite the current high energy prices, it is stated that the total value of this trade remains below one billion dollars annually and holds a very small share within Russian energy revenues.

Although the British government plans to fully implement the ban, it has been reported that the process will be spread over time to prevent supply shortages in the domestic market. According to the BBC, the government has issued a limited number of licenses for the import of certain fuel products derived from Russian oil during the transition period.

Meanwhile, the United Kingdom is under pressure due to rising jet fuel prices as it approaches the peak period of the summer travel season. Former British Airways CEO Willie Walsh stated in an interview with the BBC that the rise in global jet fuel prices will inevitably be reflected in ticket prices. Walsh also warned that supply shortages could come into play in the worst-case scenario.

The British government, at this stage, argues that there is no direct fuel shortage in the market. A government spokesperson stated in an interview with the Guardian, 'British airlines are clearly stating that they are not seeing any shortages of jet fuel or road fuel at this time.' The spokesperson also expressed that they are working closely with the sector to ensure that flights continue without disruption and that various emergency options, including fuel prioritization if deemed necessary, are on the table.

Source: SeaNews Türkiye