May 25, 2022

Westside People

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Western countries will exempt many Russian banks from the Swift base

After the invasion of Ukraine, Western countries adopted new sanctions against Moscow, especially with the decision to exclude several Russian banks from the Swift interbank base, which the German government announced was essential in the world fund.

“All Russian banks already recognized by the international community, and other institutions if necessary,” the German government spokesman said, adding that the country was currently chairing the G7 summit.

These measures have been taken by the United States, France, Germany, Great Britain, Canada, Italy and the European Commission.

According to the European Union, about 70% of the Russian banking sector is currently affected by sanctions.

In addition, Western partners have decided to further restrict access to the Russian central bank to the capital markets, further complicating efforts to support the ruble’s trend following the Ukraine war.

European Commission President Ursula von der Leyen has spoken out against the “paralysis” of Russian central bank assets.

New restrictions will eventually apply to prevent Russian oligarchs and their families from obtaining Western citizenship and a “golden passport.”

All of these countries (United States, France, Germany, Great Britain, Canada, Italy and the European Commission) have insisted that “Russia is prepared to take further action if it does not end its aggression against Ukraine. Peace in Europe,” the spokesman said.

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