UK exploring tougher oil sanctions on Russia

That’s according to Neil Wilson, a Senior Press Officer at the UK Treasury, who spoke in a comment to Guildhall, Ukrinform reports.

“We continuously monitor the effectiveness of the Oil Price Cap and keep the price cap level under review. We are actively considering – alongside our international partners – options for further leveraging our oil sanctions to put Ukraine in the strongest position possible and push Putin to engage in any peace process in good faith,” the official said.

Earlier, Member of the European Parliament from the Czech Republic (Group of the Greens/European Free Alliance) Marketa Gregorova said the price cap for Russian oil should be further lowered. In her opinion, Western nations need to go for the move as it will have a strong economic impact on Russia and hit its coffers even more. To this end, Europe and the United States should strengthen control and introduce more effective mechanisms to enforce sanctions.