Detachment of Russia from SWIFT added to new bundle of US sanctions.
The United States is prepared to force another bundle of authorizations against Russia in case of its attack of Ukraine. This was declared by the American TV station CNN , refering to sources. If all else fails, the conversationalists of the writers called the detachment of Russia from the global installment framework SWIFT. The fundamental focuses of the new limitations will be individuals from the inward circle of Russian President Vladimir Putin and Russian oligarchs. Likewise, the US specialists are thinking about limitations against the Russian public obligation.
Russian finance managers and individuals from the nearby circle of the president plan to restrict the capacity to travel and remove admittance to American banks and Visa frameworks. Notwithstanding close to home approvals, there are likewise limitations against the Russian energy area, however no subtleties were given in such manner.
"We believe we have a route forward that includes major economic remedies from both Europe and the United States, including significant, serious economic injury to the Russian economy," a senior US administration official said. According to CNN sources, no final decision has been made on whether the new penalties would be implemented. According to sources, US President Joe Biden's administration is presently in discussions with European countries to coordinate steps. Biden and Secretary of State Anthony Blinken had previously stated that penalties against Russia were a possibility.
Intimidation tactics
The material that came in the media was dubbed "information panic" by the Kremlin. "Rather, this is a continuation of the information mania that we are experiencing in the media these days," presidential press secretary Dmitry Peskov said in answer to a query from journalists about how these messages would effect Putin's December 7 meeting with US President Donald Trump.
Vladimir Dzhabarov, the first deputy head of the Federation Council's foreign affairs committee, is likewise wary of American threats and believes that Russia being cut off from the SWIFT system is an improbable possibility.
Dzhabarov also spoke of probable sanctions on "Putin's inner circle," claiming that since 2014, a huge number of Russian tycoons have been subjected to restrictive measures, and that "it is simpler to list on one hand the people they have not sanctioned."
The threat of the US disconnecting Russia from SWIFT, according to Pavel Shust, Executive Director of the Association of Electronic Money and Money Transfer Market Participants, is a rhetorical ploy on the side of the US, and such a move would be detrimental to everyone. "The language on disconnecting from SWIFT is contained in practically all sanctions projects, but it is invariably left out of the debate." "They're mostly a rhetorical tactic," the expert explained. At the same time, Shust emphasized that such a penalty would be a "point of no return" for the Russian economy and its relationships with key trading partners.
Repetition of the past
Sanctions have previously been applied on multiple occasions for proximity to the Russian government. Entrepreneurs Arkady and Boris Rotenberg, Gennady Timchenko, co-owner of Novatek gas company and Sibur petrochemical company, Nikolay Shamalov, co-owner of Rossiya bank, Oleg Deripaska, former head of the merged company Rusal and En + Group, and many other wealthy businessmen in the country were subjected to restrictions.
Furthermore, on June 14, US restrictions on Russian government debt went into effect. The limits mean that US financial institutions are no longer permitted to participate in the primary market for ruble or non-ruble bonds issued by the central bank, the National Wealth Fund, or the Russian Treasury after that date. The US House of Representatives adopted a measure in September that expanded the prohibition on Americans purchasing or selling freshly issued Russian sovereign debt obligations - it was suggested to extend it to secondary markets. The additional limits were subsequently referred to as "punishing Moscow" for intervening in US elections.
Threats to cut Russia off from SWIFT have also been made on several occasions. The European Parliament tabled a proposal to cut Russia from the SWIFT international financial system by the end of April in the event that Moscow "continues its aggression in Ukraine." However, Roman Chernov, executive director of the Russian National Association of SWIFT (Rosswift), turned down this chance in the summer. "They are not going to cut us off from SWIFT." "It's quite clear - it's not good for anyone," he explained. Furthermore, Josep Borrell, EU High Representative for Foreign Affairs and Security Policy, eventually confirmed that the EU had no jurisdiction over this.