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
Sheikh Qassem, addressing the scouts: It is an honor for me to be among you
Sheikh Qassem, addressing the scouts: You are growing up at the very heart of the struggle, confronting the enemy, and embodying the spirit of resistance in all its forms
Sheikh Qassem, addressing the scouts: You are the bright future, and the Master of the Martyrs of the Ummah watched over you to nurture the spirit of commitment, determination, and hope
Hezbollah’s Secretary-General, Sheikh Naim Qassem, delivering a speech during the 'Sayyed’s Generations' festival
Occupied Palestine: Israeli occupation forces arrest 8 young men during a raid on the town of Silwad, east of Ramallah
Israeli media: No absolute victory promised by Netanyahu and some of his admirers, but a painful settlement
Israeli media: It must be said that the goals of the war launched by "Israel" in the weeks following October 7 are far from being achieved
Occupied Palestine: Clashes erupt between young men and occupation forces during a raid on the village of Beit Furik, east of Nablus.
Egypt: Three Qatari diplomats die in a car accident in Sharm el-Sheikh, Egypt
Hamas official tells AFP disarmament 'out of the question'

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

Middle East states want Russia to maintain presence in Syria: Lavrov

Russian economy grows 1% in January–August, inflation at 8%

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

Mossad’s secret role in Aldo Moro’s 1978 murder revealed

Mossad’s secret role in Aldo Moro’s 1978 murder exposed

  • Politics
  • 5 Oct 2025
The Palestinian resistance and the people of Gaza showed that after combating Israeli aggression for two years, they remain victorious in the face of oppression (Mahdi Rteil/Al Mayadeen English)

Al-Aqsa Flood two years on, a tale of victory

  • Politics
  • 6 Oct 2025
Taylor Swift: The Life of a Showgirl

The Life of a No-Girl: The one verse Taylor Swift refuses to sing

  • Arts and Culture
  • 8 Oct 2025
Ceasefire in Gaza takes effect amid conflicting signals and bombings

Gaza ceasefire takes effect; 'Israel' resumes bombing, timing disputed

  • Politics
  • 9 Oct 2025

Coverage

All
War on Gaza

Read Next

All
Israeli troops cover settlers as they vandalize olive tree fields in Beita, Nablus, Occupied Palestine, October 10. 2025 (social media)
Politics

Israeli aggression on West Bank escalates, settlers attack farmers

Demonstrators shout as they reach a police line during a protest by Palestine Action group in London, Monday, June 23, 2025. (AP Photo/Frank Augstein)
Politics

Ex-British diplomat challenges Palestine Action ban in Scottish court

Britain's former Prime Minister Tony Blair walks through the COP28 UN Climate Summit, Sunday, Dec. 3, 2023, in Dubai, United Arab Emirates (AP)
Politics

Tony Blair met Jeffrey Epstein in Downing Street on Mandelson's advice

FBI agents stand behind a police line, Friday, August 22, 2025, on H Street in northeast Washington. (AP Photo/Julia Demaree Nikhinson)
Politics

Nearly half of FBI agents reassigned to support ICE immigration effort

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