Ukrainian Foreign Minister Dmytro Kuleba called on all Russian banking transactions to be banned from SWIFT, including energy transactions.
transactions to continue on the international SWIFT banking system, even as they issued harsh sanctions on other transactions.
The comments followed a Saturday move by the United States and European allies to exclude much of Russia's banking system, including its central bank, from the SWIFT banking system. According to a senior U.S. administration official, this effectively made Russia "a global economic and financial pariah."But the sanctions specifically carved out energy purchases like oil and natural gas – products from Russia that some European countries are heavily reliant on.
The goal, the official said, is "very carefully to maximize the impact on Russia and minimize the spillovers to Europe… and the global economy." The official said the institution-by-institution approach is similar to how the U.S. handled sanctions on Iran and said the final list will be finalized by European Union regulators. A White House official said if sanctions increased the price of energy, it may help Putin.
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