Status: 02/26/2022 11:35 p.m
The EU, Germany and Western allies have decided to exclude Russian financial institutions from the SWIFT system. EU Commission President von der Leyen also announced measures against the Russian central bank.
In response to the major Russian offensive in Ukraine, Germany, the USA, France, Canada, Italy, Great Britain and the EU Commission have jointly decided on further financial sanctions against Russia. All Russian banks that have already been sanctioned by the international community will be excluded from the international payment system SWIFT, government spokesman Steffen Hebestreit said.
If necessary, other Russian banks are to be added. This is intended to cut off these institutions from international financial flows.
Targeting the Central Bank of Russia
The EU states, the USA and Great Britain also want to further restrict the possibilities of the Russian central bank to support the ruble exchange rate with international financial transactions.
“We are depriving the central bank of the opportunity to use its assets internationally,” stressed EU Commission President Ursula von der Leyen. The goal is to limit Russian President Vladimir Putin’s ability to finance his “war machine.” Putin is prevented from using his war chest. Putin has embarked on a path aimed at destroying Ukraine. In fact, he is also destroying the future of his own country, says von der Leyen.
No more “golden passports”?
The adopted sanctions are also aimed at individuals and institutions in Russia and elsewhere who support the war against Ukraine, Hebestreit said. The possibility for wealthy Russians to buy themselves and their family members a so-called golden passport and thus European citizenship is to end. With all these measures, we are gradually eroding the foundations of the Russian economy,” von der Leyen said.