Britain will increase oil and gas production after announcing that it will ban imports of Russian oil by the end of the year, Transport Minister Grand Saps said today.
Britain announced yesterday, Tuesday, that it would phase out imports of Russian oil and oil products by the end of 2022 and would consider banning Russian gas following other countries, such as the US, in a move to impose sanctions on Moscow for its invasion of Ukraine.
“We are lucky in Britain that we do not buy proportionately too much Russian oil and gas and we also produce our own, so we will increase that as well,” Saps told Sky News.
British Prime Minister Boris Johnson has pledged to develop a new energy supply strategy as his government prepares for the effects of a 54% increase in gas and electricity bills from April and higher prices for petrol pumps.
However, Saps noted that he believes that the British will bear the financial cost of the ban.
“While this will certainly lead to some higher energy prices – although we have probably already seen this, it is already happening – the British people do not intend to see us fund Putin’s terrible war,” he said.