As the worlds meets to decide sanctions against Russia for its invasion of Ukraine, the EU is divided over whether to cut Russia off from SWIFT, a high-security payment network that connects thousands of financial institutions around the world.
It appears that economic interests will prevail and that the EU will not include SWIFT in its package of sanctions, according to an unnamed “senior EU diplomat” quoted by CNN.
Politicians from frontline states who feel most acutely Russian aggression have reacted angrily to this self-serving obstruction.
“I will not be diplomatic on this. Everyone who now doubts whether Russia should be banned from SWIFT has to understand that the blood of innocent Ukrainian men, women and children will be on their hands too. BAN RUSSIA FROM SWIFT,” added Ukrainian Minister of Foreign Affairs Dmytro Kuleba.
Banning Russia from SWIFT would make it almost impossible for financial institutions to send money in our out of the country, crippling Russian businesses’ ability to transact with foreign customers.