Britain outlines efforts to separate Russia from Swift

London said it would work with partners to isolate Moscow from the international financial network

The British government will try to persuade its allies to isolate Russia from the SWIFT global banking system and impose a series of tough sanctions following Moscow’s military operations in Ukraine. Washington has previously said it would not want to target the payment network.

“We will not rest until the Russian economy is deteriorating and the sovereignty and territorial integrity of Ukraine is restored,” he said. Foreign Secretary Liz Truss said in a statement that “The UK is working with allies to get Russia out of the SWIFT financial system.”

Britain’s Commonwealth Foreign Office announced a new round of sanctions on Thursday, describing them as sanctions “Most punitive sanctions” made for “Giving maximum and lasting pain on Russia. »

London will target more than 100 Russian companies with asset freezes and travel restrictions, lock Russian banks out of UK financial markets, impose new trade and export restrictions and impose restrictions on the country’s national airline, Aeroflot, on British airspace.

Prime Minister Boris Johnson had previously indicated “heavy package of economic sanctions” intend for “Obstacle” the Russian economy, a statement echoed by US President Joe Biden, whose administration also announced a series of “unprecedented and expansive” remedy for « low [Russia’s] Industrial potential for years to come.

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On Swift, however, Biden indicated that his administration would not take the same action as the UK, saying the restrictions he has already outlined could be “more result” As with any action towards a global payment network.

Similar sanctions have been announced by several Western and European allies, some of whom have called for Russia to separate from SWIFT – all in response to Moscow’s request. “Special Military Operations” Support for the two newly recognized separate republics was launched in the early hours of Thursday in the Donbass.

German Chancellor Olaf Scholz, however, has spoken out against Moscow’s exclusion from the payment system, arguing that the measure should not be part of the EU’s second sanctions package, which is expected to be discussed in Brussels.

Read more: Biden reveals updates on Russia and Swift

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