Swift: EU leaders line up to back banning Russia from banking network

[dalton99a]

https://www.theguardian.com/world/2022/feb/26/swift-eu-leaders-line-up-to-back-banning-russia-from-banking-network

Swift: EU leaders line up to back banning Russia from banking network
France, Italy, Greece, Cyprus and Hungary express support for financial measure pursued by UK
Miranda Bryant
Sat 26 Feb 2022 10.23 EST

More EU countries – including France, Italy and Greece – have said they would back a ban on Russia using the Swift global payments network in a bid to pile further pressure on the country after its invasion of Ukraine.

The move, which it is hoped would hit Russian trade by making it harder for companies in the country to do business, is being considered to escalate sanctions on Vladimir Putin’s regime.

Ukraine’s foreign minister, Dmytro Kuleba, warned on Thursday that European and US politicians would have “blood on their hands” if they did not support a ban. The following day, the EU’s foreign affairs chief, Josep Borrell, said a ban did not get the “necessary unanimity” but that it would remain a possibility for future consideration.

Germany’s foreign minister, Annalena Baerbock, said on Friday she did not believe a ban was the best course of action and France’s finance minister, Bruno Le Maire, said one should be used only as a final resort.

But on Saturday, Kuleba said the French foreign minister, Jean-Yves Le Drian, had supported cutting Russia out of Swift during a phone call with him. Writing on Twitter, he also said that France was ready to supply Ukraine with weapons and military equipment.

[Thomas Hurt]

1. Cut Russia gov't off from the Western economy as much as possible...

no access to ports, financial institutions, stock markets, internet, any strategic resources that are rare to them. No oil sales, no grain sales for Russia.

[LetMyPeopleVote]

2. US + EU commit to removing selected Russian banks from Swift

Link to tweet

[LetMyPeopleVote]

3. Zelenskyy- "This is an important victory. It means billions & billions in losses for Russia.

Link to tweet