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Sanctions against Russia – The EU could disconnect the last major Russian bank from SWIFT

We are talking about Gazprombank, through which payments for gas are made: it is he who can become the first candidate for excommunication from SWIFT in the eighth EU sanctions package.

The EU considers a new tightening financial penalties against the Russian Federation.

How in shape Bloomberg, citing diplomats familiar with the situation, the last major state bank in the Russian Federation may be disconnected from the SWIFT international payment system, which retains access to it.

We are talking about Gazprombank, through which payments for gas are made: it is he who can become the first candidate for excommunication from SWIFT in the eighth EU sanctions package.

The Baltic countries, Ireland and Poland are offering to take such a step. They too propose to include in the eighth package of sanctions:

  • ban on the purchase of LNG in Russia,
  • limiting cooperation in the field of nuclear energy,
  • sanction services for the insurance of the supply of dollar banknotes (the deliveries themselves are prohibited from the beginning of March 2022);
  • expand the ban on entry to European ports for Russian ships and new sanctions against propaganda media.

In addition, the European Union is considering tougher technological sanctions, a ban on the supply of cybersecurity software and tools, a full embargo on Russian diamonds and steel, as well as restrictions on the real estate market. Transactions with companies and citizens of the Russian Federation who are not resident in one of the EU countries may be prohibited.

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Foreign ministers of EU countries are expected to examine the eighth package at a meeting in Prague on 6-7 October.

Note, as UNIAN wrote, Poland and the Baltic countries actively promote the increase of sanctions the European Union against Russia in response to Vladimir Putin’s decision to carry out a partial mobilization and his own threats of nuclear war.

Sanctions against Russia

As reported by UNIAN, the foreign ministers of the European Union decided to prepare new sanctions against Russia and increase arms supplies to Ukraine. This happened after Russian President Vladimir Putin ordered a partial mobilization to begin.

EU High Representative for Foreign Policy Josep Borrell said Putin’s statement, which included moves to annex Ukrainian territories and threaten to use nuclear weapons, showed panic and despair in the Kremlin.

Meanwhile, Hungarian Prime Minister Viktor Orban in a closed-door meeting with MPs from his party, he said the sanctions would harm the European economy more than Russia’s. Lifting sanctions will reduce inflation and reduce the risk of a recession, he said. Therefore, he called on his party comrades to do “everything possible for Europe to lift the sanctions by the end of the year”.

Mobilization in Russia and Putin’s nuclear blackmail

On September 21, in his speech, Russian President Vladimir Putin announced the start of partial mobilization in the country. The Ministry of Defense of the Russian Federation said that they would send citizens with combat experience to war in Ukraine, first of all. According to Shoigu, they plan to call up to 300 thousand people.

In a speech dedicated to the announcement of partial mobilization in the Russian Federation, Putin threatened the world the use of nuclear weapons: “Nuclear blackmail is being carried out against Russia … Anyone who tries to blackmail us in this way should know that the wind rose can turn in their direction.”

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