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
Israeli media: An Iranian missile hit a 50-story building in Tel Aviv
Iranian missiles impacted central Tel Aviv again
Sirens are sounding across Israeli city settlements and occupied territories, including Tel Aviv and occupied al-Quds
Israeli military command: Sirens sounded in several areas across Israel following the identification of missiles from Iran
Israeli Home Front Command: A new wave of missiles has been launched from Iran
Israeli media platform: A critically wounded individual has died as a result of the Iranian missile strike
Israeli media: Israeli police arressted 22 Palestinians for participating in a "car parade" in Umm al-Fahm
Israeli media: Sirens sound across the border with across the broder with Jordan
The New York Times: At least 40 people were injured in Tel Aviv and the surrounding areas, based on figures from three hospitals
Haaretz: 9 buildings were completely destroyed in Ramat Gan, hundreds of apartments were damaged in the area, and a 32-story building in Tel Aviv sustained damage and caught fire

EU: Cutting Russia off from SWIFT problematic

  • By Al Mayadeen Net
  • Source: Bloomberg
  • 16 Dec 2021 23:58
3 Min Read

A Bloomberg report quoted sources as saying that the EU considers the US calls to cut off Russia from the SWIFT global payment system problematic, as Russians believe it is a national security issue.

  • x
  • The US believes that agreeing on a sanctions package would send a clear message to Moscow, a Bloomberg report said.
    The US believes that agreeing on a sanctions package would send a clear message to Moscow, a Bloomberg report said.

The EU considers a cutoff of Russia from the SWIFT global payment system problematic as the US pushes the union to finalize an array of sanctions against Moscow to be implemented in the event the latter invades Ukraine, Bloomberg reported on Thursday, citing people familiar with the discussions.

The US believes that agreeing on a sanctions package would send a clear message to Moscow, the report said.

Bloomberg mentioned that potential measures under consideration right now include restrictions on Russia's ability to refinance its sovereign debt, sanctions on companies in the energy and defense sectors, and a ban on Russia's participation in key international transaction networks like SWIFT.

However, cutting off Russia from SWIFT, which is used to transfer payments around the world, is considered extremely problematic due to potential disruptions of global markets for energy and other Russian exports, the report explained.

National security issue

Related News

Russia’s central bank cuts interest rate in a first since 2022

DPRK's Kim vows to 'unconditionally support' Russia in Ukraine war

Andrey Krutskikh, Russian Special Presidential Envoy for International Cybersecurity Cooperation, expressed that "when we face threats of being disconnected from SWIFT, from financial flows, those not being on the scale of ordinary actions, this is also an issue of national security."

"In other words, this technology has involved certain issues in the questions of war and peace probably for the first time in recent years," Krutskikh indicated.

There is also concern that Moscow may decide to cut off gas exports to Europe amid already-surging energy prices, the report added.

The European Parliament on Thursday enacted a resolution calling on the EU to be ready to impose sanctions against Russia in the event of escalation at the Ukrainian border.

Ukraine persuades the EU

This comes as Ukrainian President Volodymyr Zelensky tweeted that he "was able to persuade our European colleagues that it is more vital for us to have sanctions implemented before rather than after the start of any conflict...because if that happens, there will be no escalation," following a meeting between European leaders and Eastern Partnership members Ukraine, Georgia, Moldova, Armenia, and Azerbaijan.

Tensions around Ukraine have escalated over the last several weeks amid an alleged buildup of Russian forces near the Ukrainian border.

Moscow has repeatedly denied accusations that it is planning an invasion, arguing that Russia has the right to relocate the troops within its territory at its own discretion.

  • Moscow
  • Russia
  • SWIFT
  • US
  • Volodymyr Zelensky
  • EU
  • Ukraine
  • European Union

Most Read

The logo of the Iranian Ministry of Intelligence (wikidata)

Iran acquired thousands of sensitive Israeli documents: Exclusive

  • Politics
  • 7 Jun 2025
'Israel' launches major strike against Iran's nuclear program

'Israel' launches massive aggression on Iran

  • MENA
  • 13 Jun 2025
Iranian demonstrators walk on a caricature of the Israeli Prime Minister Benjamin Netanyahu during the annual Quds Day rally in support of Palestinians, in Tehran, Iran, Friday, March 28, 2025 (AP)

Iran hits 'Israel' hard without arms; intel breach lays Tel Aviv bare

  • Politics
  • 7 Jun 2025
The flag of the International Atomic Energy Agency flies in front of its headquarters during an IAEA Board of Governors meeting in Vienna, Austria, Wednesday, Nov. 22, 2023. (AP)

Tehran unravels documents exposing secret IAEA-'Israel' collusion

  • Politics
  • 12 Jun 2025

Coverage

All
War on Gaza

Read Next

All
Global condemnations mount against Israeli aggression on Iran
Politics

Global condemnations pour in against Israeli aggression on Iran

President Donald Trump attends the UFC 316 mixed martial arts event Saturday, June 7, 2025, in Newark, New Jersey (AP)
MENA

US denies role in attacks on Iran, yet vows to defend 'Israel'

Vehicles drive past an anti-Israeli banner showing missiles being launched, in a square in downtown Tehran, Iran, Friday, April 19, 2024. (AP)
Politics

Political, military Iranian figures vow revenge, slam US complicity

AEOI condemns IAEA silence after Israeli aggression on nuclear site
Politics

AEOI slams IAEA's silence despite Israeli aggression on nuclear site

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