UNITED STATES AND UNITED KINGDOM SANCTIONS AGAINST RUSSIA

US, UK announce news against Russia

The first step taken by the group will be the removal of some Russian banks from the Swift international transaction system.

On Saturday night (26), the United States, the European Union and the United Kingdom announced a stricter package of sanctions against Russia, in the form of punishment to the country for the invasion of Ukraine. In a statement issued, the leaders of the European Commission, France, Germany, Italy, the United Kingdom, Canada and the United States said they were against Putin's "war of choice" against the "sovereign nation and people of Ukraine".

According to the text, “to hold Russia accountable and collectively guarantee that the war will be a strategic failure for Putin.”

The first step taken by the group will be the removal of some Russian banks from the Swift international transaction system. According to the text, the action will ensure that "these banks are disconnected from the international financial system and that their ability to operate globally is impaired." According to the German government, the decision is expected to apply to all financial institutions already mentioned in previous sanctions packages, including Russia's two largest banks, VTB and Sberbank.

The possibility of excluding Russian institutions from Swift (the Society for Worldwide Interbank Financial Telecommunications), was considered a radical decision among the possible sanctions proposals after the Russian invasion, since the measure limits payments for services such as supply. of gas from Russia.

According to Russian officials, more than a thousand institutions currently use Swift. “The decision to remove Russia from Swift means the leaders are serious. This limits Russia's ability to execute transactions around the world and cuts off their capital flow from most countries, so it's a serious step that should get a lot of attention from them [Russia]," said Michael Farr, chairman of investment manager Farr. , Miller & Washington, told Reuters.