WTF? EU unlikely to cut Russia off SWIFT for now, sources say

[yaesu]

BRUSSELS, Feb 24 (Reuters) - The European Union is unlikely at this stage to take steps to cut Russia off from the SWIFT global interbank payments system as it works on a new package of sanctions against Moscow for its action against Ukraine, several EU sources said. read more

The foreign ministers of the Baltic states, once ruled from Moscow but now members of NATO and the EU, called on Thursday to stop Russia's access to SWIFT.

Other EU member states are reluctant to make such a move because, while it would hit Russian banks hard, it would make it tough for European creditors to get their money back and Russia has in any case been building up an alternative payment system.

"Urgency and consensus is utmost priority at the moment," said an EU diplomat, adding that at this stage it meant no move on SWIFT, because doing so would have such wide-ranging consequences, also in Europe.

https://www.reuters.com/business/finance/eu-unlikely-cut-russia-off-swift-now-sources-say-2022-02-24/

[dalton99a]

1. Let's wait until Russia invades the next country

or maybe the one after that

[brooklynite]

5. Better still, lets wait for EU to figure out what makes sense to apply in the way of sanctions

[uponit7771]

2. EU is in shock too, Putin has gone batshit and they think they can contain the bat shit. They'll

... fail like the others have failed.

[PortTack]

3. Make it tough you say?? What about the ppl of Ukraine? You want a little tough now, or impossible

Later? Not good!

[lagomorph777]

4. Short sighted.

[OnDoutside]

6. Utterly cretinous

[Thomas Hurt]

7. body count is still way too low...international finance needs more dead people first.

[malaise]

8. The US should cut off the Slobfather first n/t

[Fiendish Thingy]

9. Remember those Irish fisherman who were pissed at Russian war games in their waters?

The edge of the Irish territorial fishing waters is where the transatlantic cables for both phone and data, including the banking system, are laid.

If the west cuts Russia off from SWIFT, don’t be surprised if Russia responds by cutting those cables, cutting the EU off from commerce and communications with the US, and vice versa.

[Pachamama]

10. Italy wants their luxury goods to be able to purchased by Russian Elite

[Irish_Dem]

11. The world may be afraid of Putin right now.

They are being careful it appears.