Introduce legislation that bans import and sale of products that use Russian oil in their production and requires businesses to disclose the origins of the oil used in the production of products they sell by implementing blockchain solutions in their end-to-end supply-chain traceability management.
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The UK Government recently announced that the UK will phase out Russian oil imports. However, this does not go far enough and still allows Russian oil to be used by third countries to make products which are then imported and sold in the UK which effectively allows for a circumvention of the oil imports ban and undermines Government's efforts to reduce the ability of Russia to finance its military. Blockchain technology provides solutions for a complete traceability of origins of the oil used.