European Commission will discuss disconnecting Russia from SWIFT
Update:
BREAKING: The US, EU and UK have agreed to block selected Russian banks from the SWIFT global financial messaging system and to impose restrictions on its central bank in retaliation for its invasion of Ukraine.
The Biden administration and its key European allies reached a preliminary agreement to bar sanctioned Russian companies, oligarchs and government officials from using the SWIFT system, essentially barring them from international financial transactions. https://t.co/qstBXpzq0F
— The New York Times (@nytimes) February 26, 2022
The leaders of the United States, France, Germany, Italy and the head of the European Commission have been discussing disconnecting Russia from SWIFT by the end of the day, Handelsblatt reports.
The European Union has been in talks over a third package of sanctions on Russia, an EU diplomat told Reuters on Saturday. The announcement could come as early as tomorrow.
A tweet from Boris Johnson, the UK prime minister, who says he spoke to Volodymyr Zelenskiy today:
This evening I spoke to President @ZelenskyyUa. The heroism of the President and his people in the defence of their country is awe-inspiring.
We are clear – Russia must be isolated diplomatically and financially. I welcome increased willingness to exclude Russia from SWIFT.
— Boris Johnson (@BorisJohnson) February 26, 2022
Meanwhile, the United States and its allies are seeking as much support as possible to show Russia is internationally isolated.
The US is also weighing additional sanctions on Russia’s central bank as it discusses a series of increasingly severe economic penalties, according to people with knowledge of the matter.
The people said the US hasn’t yet made a decision on whether and how to expand sanctions against Russia’s central bank, adding that the Biden administration is discussing the issue with allies in Europe.
The United Nations Security Council is also voting to call for a rare emergency special session of the 193-member UN General Assembly on Russia’s invasion of Ukraine, which would be held on Monday, diplomats said.
The vote by the 15-member council is procedural so none of the five permanent council members, Russia, China, France, Britain and the United State, can wield their vetoes. The move needs nine votes in favour and is likely to pass, diplomats said. The special session would be held on Monday.
Only 10 such emergency special sessions of the 193-member General Assembly have been convened since 1950.
The request for a session on Ukraine comes after Russia vetoed on Friday a draft UN Security Council resolution that would have deplored Moscow’s invasion. China, India and UAE abstained, while the remaining 11 members voted in favour.
UN Security Council result: A victory for the West as China abstains instead of vetoing
The General Assembly is expected to vote on a similar resolution following several days of statements by countries in the emergency special session. There General Assembly resolutions are non-binding but carry political weight.
This goes on in the background to the night sirens on Sunday night in Kyiv that prepare the citizens for the third night of air raid attacks.
⚡️⚡️⚡️Kyiv citizens must get to the nearest shelter now.
Heavy air raid expected
— The Kyiv Independent (@KyivIndependent) February 26, 2022
There are shocking reports where it seems Okhmadyt children’s cancer hospital has been struck by artillery fire.
Russian fire has struck Kyiv’s children’s cancer hospital Okhmadyt, killing one child and wounding two, along with two adults, TSN reported. Eyewitnesses reported that the city is under attack from multiple-launch rocket systems. pic.twitter.com/U2OvDDhcW1
— Reza Rahimi (@rezarvhimi) February 26, 2022
NATo allies are supporting Ukraine with armour. Germany will send 1,000 anti-tank weapons and 500 stinger missiles to Ukraine, the German chancellor said on Saturday.
Olaf Scholz said the Russian invasion marked a “turning point”, and added: “It is our duty to do our best to help Ukraine defend against the invading army of Putin.”
