US EditionEU Weighs New Russia Sanctions, May Cut 20 Banks From SWIFT
- The European Union is preparing its 18th sanctions package, expected on May 26, 2025, which includes plans to remove upwards of 20 Russian financial institutions from the SWIFT payment system and to prohibit the operation of the Nord Stream gas pipelines.
- This package follows earlier sanctions targeting Russia's military and economic sectors since its 2022 invasion of Ukraine, amid growing efforts to limit Russia's revenue and technology access.
- The proposals involve introducing around €2.5 billion in new trade restrictions, potentially reducing the G7 oil price cap to approximately $45 per barrel, and strengthening prohibitions targeting Russia’s covert network of oil tankers.
- More than 20 banks may be cut off from SWIFT, a financial messaging system crucial for international transactions, with final approvals requiring unanimous consent from all 27 EU member states.
- If adopted, these measures aim to intensify economic pressure on Moscow to end its war in Ukraine and prevent any revival of the Nord Stream pipelines, though timelines and details remain under negotiation.
47 Articles
47 Articles
The EU Takes Into Account the Decoupling of 20 Banks From the SWIFT System as a Penalty Against Russia
Officials of the European Union (EU) shall take into account the exclusion of more than 20 banks from the SWIFT system, under a new sanctions package applied against Russia, report Bloomberg, reading European sources.
Luikmel: Russia Still Earns Too Much Income From Oil
This week, the European Union imposed sanctions on nearly 200 vessels belonging to Russia's shadow fleet. Experts say that a much lower price cap on Russian oil would also be necessary, which would directly affect their oil revenues. The shadow fleet, which feeds the war machine with oil shipments, is a headache in the Baltic Sea, and as the Jaguar tanker incident showed, Russia is ready to defend it.
(S+) Russia Sanctions: Ex-Consultant of Joe Biden Calls for Tougher Measures
Daleep Singh is regarded as an architect of Russia's sanctions. Here, Joe Biden's former vice-security consultant says what measures Europe should now adopt. This also includes targeting third countries.
The EU is preparing to exclude 20 banks from SWIFT as part of sanctions against Russia — Bloomberg: EADaily
EADaily, May 24th, 2025. The European Commission is considering the possibility of disconnecting more than 20 banks from the SWIFT system as part of a package of new sanctions against Russia, Bloomberg reports.
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