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UK to increase oil production after Russia’s import ban

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Transport Secretary Grant Shapps said Britain would ramp up oil and gas production after announcing it would ban Russian oil imports by the end of the year.

Britain is Ireland’s main supplier of oil and gas.

On Tuesday, Britain said it would eliminate imports of Russian oil and oil products by the end of 2022 and consider banning the country’s natural gas, along with other countries such as the United States in a move to impose sanctions. penalize Moscow for the invasion of Ukraine.

“We’re lucky in the UK that we don’t buy too much Russian oil and gas and we also produce it ourselves so we’re going to step up on that as well,” Shapps told Sky News.

Prime Minister Boris Johnson has promised to devise a new energy supply strategy, as his government braced for a downturn as consumer gas and electricity bills rose 54% from April, and pump prices rose. higher gasoline.

But Shapps said he thought Britons would accept the financial cost of the ban.

“Of course, although it will lead to some higher energy prices – although we may have seen that, they are happening – the British people are not ready to see us fund the war. Putin’s horror,” he said.

https://www.independent.ie/business/irish/britain-to-step-up-oil-production-after-russian-import-ban-41426702.html UK to increase oil production after Russia’s import ban

Fry Electronics Team

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