29.01.2025, 11:43
The European Union is going to disconnect new Russian banks from SWIFT
Source: OREANDA-NEWS
OREANDA-NEWS The European Union (EU), as part of the 16th package of anti-Russian sanctions being developed, may disconnect about 15 more banks from the SWIFT international payment system, Bloomberg reports, citing sources. According to them, it is also planned to introduce measures against more than 70 vessels of the "shadow" fleet involved in the transportation of Russian oil.
In addition, a phased ban on the import of Russian aluminum is being considered. Aluminum from Russia accounts for 8% of total European imports. At the same time, the agency clarifies that the EU may not accept the restrictions under discussion, because Hungary is increasingly resisting additional sanctions.
As of September 2024, more than 200 Russian banks remain connected to SWIFT. In 2014, the Central Bank created a Russian equivalent of SWIFT to minimize the impact of sanctions, and the United States threatened sanctions for its use. VTB CEO Andrey Kostin believes that SWIFT "should be killed simply," because it's easy to find a replacement.
In addition, a phased ban on the import of Russian aluminum is being considered. Aluminum from Russia accounts for 8% of total European imports. At the same time, the agency clarifies that the EU may not accept the restrictions under discussion, because Hungary is increasingly resisting additional sanctions.
As of September 2024, more than 200 Russian banks remain connected to SWIFT. In 2014, the Central Bank created a Russian equivalent of SWIFT to minimize the impact of sanctions, and the United States threatened sanctions for its use. VTB CEO Andrey Kostin believes that SWIFT "should be killed simply," because it's easy to find a replacement.
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