Al Mayadeen English

  • Ar
  • Es
  • x
Al Mayadeen English

Slogan

  • News
    • Politics
    • Economy
    • Sports
    • Arts&Culture
    • Health
    • Miscellaneous
    • Technology
    • Environment
  • Articles
    • Opinion
    • Analysis
    • Blog
    • Features
  • Videos
    • NewsFeed
    • Video Features
    • Explainers
    • TV
    • Digital Series
  • Infographs
  • In Pictures
  • • LIVE
News
  • Politics
  • Economy
  • Sports
  • Arts&Culture
  • Health
  • Miscellaneous
  • Technology
  • Environment
Articles
  • Opinion
  • Analysis
  • Blog
  • Features
Videos
  • NewsFeed
  • Video Features
  • Explainers
  • TV
  • Digital Series
Infographs
In Pictures
  • Africa
  • Asia
  • Asia-Pacific
  • Europe
  • Latin America
  • MENA
  • Palestine
  • US & Canada
BREAKING
Iran's Nour News: Ali Shamkhani, advisor to Iran's Leader, in letter to Sayyed Khamenei: I am alive and ready to sacrifice my life; the day of victory draws near.
Iranian Red Crescent: Five Iranian hospitals damaged in Israeli aggression.
Russia: Peskov: If the United States launches a strike against Iran, Moscow will consider this move a mistake because it will lead to a major escalation of the situation
Russia: Kremlin spokesman Dmitry Peskov: The Middle East is falling into the chaos of war, and this does not bring any good to Russia and is dangerous
Israeli media: 18 settlers were injured in the latest Iranian strike, according to preliminary reports
Israeli media: The Iranian missile impacted an area near the headquarters of Microsoft in Bir al-Sabee'
Israeli media: Sirens sounding in al-Naqab following missile launches from Iran
Israeli Home Front Command: Missiles detected launched from Iran toward al-Naqab
Israeli media: Missile launches detected from Iran
Iran’s Fars News Agency: Security forces have arrested 16 agents in Lorestan Province who were working for Mossad

Biden says not to remove Russia from SWIFT

  • By Al Mayadeen Net
  • Source: Agencies
  • 24 Feb 2022 23:13
5 Min Read

The United States promises it will sanction Russia over Ukraine, but Biden says Europe does not want Russia off the SWIFT system.

  • x
  • US President Joe Biden
    US President Joe Biden

US President Joe Biden plays the sanctions card against Russia another time amid tensions between Washington and Moscow over the former's intention to expand its NATO alliance eastward through Ukraine.

Biden announced Thursday "devastating" Western sanctions on Russia following a closed-door meeting with the group of 7 nations - the United Kingdom, Canada, France, Germany, Italy, Japan, and the United States itself.

Biden said the bloc was "standing firm" against Russia's "threat to the rules-based international order."

Biden tweeted that the G7 leaders "agreed to move forward on devastating packages of sanctions and other economic measures to hold Russia to account. We stand with the brave people of Ukraine."

This morning, I met with my G7 counterparts to discuss President Putin’s unjustified attack on Ukraine and we agreed to move forward on devastating packages of sanctions and other economic measures to hold Russia to account. We stand with the brave people of Ukraine. pic.twitter.com/dzvYxj7J9w

— President Biden (@POTUS) February 24, 2022

According to the US president, Washington designed its new sanctions on Moscow in a way that would maximize long-term impact on the country and minimize the impact on the United States, and they will include economic sanctions and restrictions on export to Russia.

"We will limit Russia's ability to do business in dollars, euros, pounds, and yen, to be part of the global economy, we will limit their ability to do that," Biden said.

He also claimed Putin rejected every "good faith" effort for diplomacy by the partners and allies of the United States, though Russia was the one that had called for talks and had the west reject its proposals on security guarantees.

The aforementioned sanctions would also curb Russia's militarization, with Biden saying they would prevent Moscow from financing and growing its military.

The United States would be blocking four more major Russian banks, and that includes VTB, while Biden estimated that it would more than halve Russia's high-tech imports, pledging that the punitive measures would also affect Russia's space program.

"Today, we are blocking four more major banks. That means every asset they have in America will be frozen. This includes VTB, the second largest bank in Russia," Biden said.

Though the US is engaging with both sides of the Russian special military operation, Biden clarified that its forces would not be engaged in conflict with Russia in Ukraine.

Related News

Fears of World War III surge in West, Russia seen as trigger: YouGov

Victory Day in Russia: Commemorating the past amid present tensions

"Our forces are not and will not be engaged in a conflict with Russia in Ukraine. Our forces are not going to Europe to fight in Ukraine, but to defend our NATO allies and reassure those allies in the east," he told the press conference.

However, Washington will still be sending an additional 7,000 troops to Germany as part of NATO, while pledging to provide Ukraine with "humanitarian assistance".

Biden also mentioned cybersecurity, pledging to respond if Moscow conducts cyber attacks against his country.

"If Russia pursues cyber attacks against our companies, our critical infrastructure, we are prepared to respond."

His allegations did not end there, as Biden asserted his belief that Putin wants to go beyond Ukraine and re-establish the USSR. "He has much larger ambitions in Ukraine. He wants to - in fact - to reestablish the former Soviet Union."

A very notable point that Biden addressed was the SWIFT system and Russia's position in it.

"It is always an option [to remove Russia from the SWIFT system], but right now, that's not the position that the rest of Europe wishes to take," Biden told the press conference.

Background

Russian President Vladimir Putin had earlier authorized a special military operation in Donbass this Thursday morning, citing neo-Nazi NATO allies moving closer to his nation's border.

Moscow's military operation in Ukraine is not a beginning of a war, but rather an attempt at curbing a global one, Russian Foreign Ministry spokesperson Maria Zakharova said Thursday.

"First of all, it is not a beginning of a war. It is very important. Our desire is to prevent the developments that could escalate into a global war. Second of all, it is the end of a war," Zakharova told NTV, a Russian broadcaster.

In response to the Russian operation in Donbass, Estonia, Latvia, Lithuania, and Poland have agreed to hold consultations in accordance with NATO's Article 4.

Russia has for months been warning of the threat posed against it by NATO's attempts to expand eastward, which happened simultaneously with an increase in NATO military activity along Russia's borders, and batches of lethal weapons being sent to Ukraine, prompting Russia to request security guarantees from the West. Washington failed to provide the guarantees.

Tensions had been soaring between Russia and Ukraine over the Donbass region and announcing it was  intending to sign a decree recognizing the independence of the Lugansk People's Republic (LPR) and the Donetsk People's Republic (DPR). 

The announcement had been preceded by intense Ukrainian shelling of the two republics, and Russia's recognition of their statehood was a move to protect the innocent civilians from the Ukrainian aggressions.

 

  • Soviet Union
  • Lugansk
  • Russia
  • SWIFT
  • USSR
  • Donbass
  • Donetsk
  • Ukraine
  • Joe Biden
  • Vladimir Putin
Russia & NATO

Russia & NATO

As the Draconian Western-led sanctions on Russia exacerbate the economic crisis worldwide, and as Russian troops gain more ground despite the influx of military aid into Ukraine, exposing US direct involvement in bio-labs spread across Eastern Europe and the insurgence of neo-Nazi groups… How will things unfold?

Most Read

Iranian missiles impact Israeli sites in Tel Aviv in 2nd wave

Iran's missiles impact 'strategic' Israeli site in Tel Aviv

  • Politics
  • 14 Jun 2025
Bin Salman: Islamic world backs Iran in call to Pezeshkian

MBS says Islamic world backs Iran in call with Pezeshkian

  • MENA
  • 15 Jun 2025
Iran launches 9th wave of Op. True Promise 3, destroys IOF air defense

Iran launches 9th wave of Op. True Promise 3, destroys IOF air defense

  • MENA
  • 17 Jun 2025
Smoke rises after an Iranian ballistic missile directly struck Tel Aviv, Occupied Palestine, June 13, 2025 (AP)

Op. True Promise 3: Iran's ballistic missiles strike Tel Aviv

  • MENA
  • 13 Jun 2025

Coverage

All
The Ummah's Martyrs

Read Next

All
Netanyahu stuns by postponing son’s wedding over Iran war
Politics

Netanyahu sparks outrage citing son’s wedding delay as Iran war cost

French court postpones verdict to July 17 on Georges Abdallah
Europe

French court postpones verdict on Georges Abdallah to July 17

Perseverance to shorten war: Iran's Larijani
Politics

Larijani says Iran to hold IAEA chief accountable after war ends

Damage to the Weizmann Institute of Science from an Iranian missile strike in Rehovot, Thursday, June 19, 2025. (AP Photo/Maya Alleruzzo)
Politics

'Catastrophic loss': Iranian blow to Weizmann’s war-linked facilities

Al Mayadeen English

Al Mayadeen is an Arab Independent Media Satellite Channel.

All Rights Reserved

  • x
  • Privacy Policy
  • About Us
  • Contact Us
  • Authors
Android
iOS