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Ukraine: the international community divided on a possible exclusion of Russia from the Swift interbank system

2022-02-26T13:29:17.540Z


Italy, France and the United Kingdom are in favor of excluding Russian banks from Swift international messaging, which


In the face of Russia's invasion of Ukraine, the idea of ​​excluding Russian banks from international Swift messaging is gaining ground, dividing the international community.

Disconnecting Russia from this system of banking and financial exchanges would amount, according to some experts, to triggering a “weapon of massive financial destruction”, paralyzing the Russian economy.

While Ukraine calls on the EU to take the plunge, will the displayed unity of the Twenty-Seven be able to maintain itself on the issue of sanctions?

Back to the main positions known to date.

Italy is in favor

Italy has decided.

Italian Prime Minister Mario Draghi has promised Ukrainian President Volodymyr Zelensky his full support for European Union sanctions, "including those concerning (the exclusion of Russia from the interbank system) Swift", the Italian government announced on Saturday. .

Canada “strongly supports”

For its part, Canada, also a member of NATO, announced on Friday a "third series of concerted sanctions" specifically targeting President Putin and his Foreign Minister Sergei Lavrov, but also the Belarusian regime "which facilitated this invasion”.

Incidentally, Canadian Prime Minister Justin Trudeau said he "strongly supports" Russia's withdrawal from the Swift banking system.

UK calls for 'immediate action'

Calling the Russian offensive a “catastrophe”, a Downing Street spokeswoman also urged member countries of the Atlantic Alliance on Friday to “act immediately” to exclude Russia from the Swift banking system “in order to inflict maximum suffering" in the Kremlin.

"The world must ensure that President Putin fails in his act of aggression," insisted Prime Minister Boris Johnson.

Germany hesitates

Germany, which had been firmly opposed to any exclusion of Swift for Russia, seems timidly to review its copy.

At a press conference on Friday, German Finance Minister Christian Lindner tried to clarify his position: "I said that we also need to consider instruments beyond the latest sanctions package, including Swift .

And to continue: “If we achieve this exclusion, will this then be the trigger that will lead Russia to stop its gas deliveries because they can no longer be paid for?

he asked.

"Asking the question of the consequences does not mean that we are not ready to assume them," he said.

Questioned a few days earlier on German television, the minister had already warned that excluding Russia from the Swift would entail “a high risk” that “Germany will no longer be supplied with gas or raw materials”.

As a reminder, the country still imports 35% of its oil and 55% of its gas and coal in Russia.

France “supports”

Unlike its German neighbour, France would be in favor of the exclusion of Russian banks from Swift.

Contacted by Le Parisien, the Élysée confirms this Saturday that Emmanuel Macron has expressed his "support" for this sanction.

“We are in favor of it in principle and are working with the Germans and the Italians in this direction”, it is indicated, adding that the agreement of the Twenty-seven States of the European Union remains however necessary.

To read also War in Ukraine: was the exclusion of Russia from the Swift financial system really "approved" by Macron?

“An option” for the United States

For its part, Washington seems at least skeptical about applying such a sanction.

It is "an option" according to US President Joe Biden, but which the president has so far refused to take.

Ukrainian Foreign Minister Dmytro Kuleba, who had met with the tenant of the White House earlier this week, said he underlined Friday with his counterpart Antony Blinken "the need to use all the influence of the United States on certain hesitant European countries in order to exclude Russia from Swift".

But the American president appears in fact to have his hands more and more tied on the international scene.

Hungary would finally be for

After showing its reluctance, Hungary would have finally changed its position.

Polish Prime Minister Jakub Morawiecki said on Saturday on Twitter that he had confirmation from Hungarian Prime Minister Viktor Orban of his "support for far-reaching sanctions including the blocking of the Swift system".

Hungary would be the last country to have shown firm opposition to this sanction, according to the Ukrainian news site, The Kyiv Independent.

Source: leparis

All news articles on 2022-02-26

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