First modification:
Washington and its European allies threaten to apply harsh punishments against Russia should it invade Ukraine. As geopolitical tension mounts in Eastern Europe, stock markets brace for weeks of high volatility.
In the event Russia invades Ukraine, possible sanctions would target major Russian banks, although a ban on Russia’s participation in the SWIFT financial system would not be included, US and European officials said.
Among the sanctions being considered is the control of exports of components produced by Russia for the technological and weapons sectors, as well as sanctions against the close circle of President Vladimir Putin.
According to a Reuters source, the banks that would be subject to sanctions could include VTB and Sberbank, backed by the Russian state and which are Russia’s largest financial institutions, both already sanctioned by Washington.
“The goal is to design sanctions that really hit the Russians without losing sight of the collateral damage for those who impose them, recognizing that sanctions would clearly hit Europe the hardest,” one of the sources said.
Taking Russia out of the SWIFT financial system, which transfers money from one bank to another around the world, would become one of the toughest financial measures that could be taken in the event of an eventual invasion of Ukraine.
Ursula von der Leyen, president of the European Commission, reaffirmed that all options are on the table, after meeting with US President Joe Biden.
“President von der Leyen outlined the status of sectoral and individual sanctions in the event of further military aggression by Russia on Ukraine. She reaffirmed the fact that all options were on the table and that the sanctions would primarily involve the financial and energy sectors, as well as exports of high-tech products,” the commission explained in a statement.
The UK government has approved a new legal framework with which it can sanction companies and businessmen of “strategic importance” to Russia, in its quest to dissuade Moscow from withdrawing its troops near the Ukrainian border.
In a statement, the Ministry of Foreign Affairs assured that they are targeting Russian companies in sectors such as chemicals, defense, technology, communications and financial services.
At the center of the debate is the authorization of the Nord Stream 2 gas pipeline, which links Russia and Germany across the Baltic Sea. Although Europe and the United States are already looking for new energy supply providers, there is no certainty that they will be able to respond quickly to meet demand in the event of a supply interruption.
Russia is the bloc’s largest energy supplier, with roughly 40% of European gas imports coming from Russia. So far, tensions in Eastern Europe are keeping stock markets volatile. This Friday Wall Street closed with losses and the Industrial Dow Jones fell 1.43% as a result of growing fear of a Russian invasion of Ukraine.
with EFE
First modification:
Washington and its European allies threaten to apply harsh punishments against Russia should it invade Ukraine. As geopolitical tension mounts in Eastern Europe, stock markets brace for weeks of high volatility.
In the event Russia invades Ukraine, possible sanctions would target major Russian banks, although a ban on Russia’s participation in the SWIFT financial system would not be included, US and European officials said.
Among the sanctions being considered is the control of exports of components produced by Russia for the technological and weapons sectors, as well as sanctions against the close circle of President Vladimir Putin.
According to a Reuters source, the banks that would be subject to sanctions could include VTB and Sberbank, backed by the Russian state and which are Russia’s largest financial institutions, both already sanctioned by Washington.
“The goal is to design sanctions that really hit the Russians without losing sight of the collateral damage for those who impose them, recognizing that sanctions would clearly hit Europe the hardest,” one of the sources said.
Taking Russia out of the SWIFT financial system, which transfers money from one bank to another around the world, would become one of the toughest financial measures that could be taken in the event of an eventual invasion of Ukraine.
Ursula von der Leyen, president of the European Commission, reaffirmed that all options are on the table, after meeting with US President Joe Biden.
“President von der Leyen outlined the status of sectoral and individual sanctions in the event of further military aggression by Russia on Ukraine. She reaffirmed the fact that all options were on the table and that the sanctions would primarily involve the financial and energy sectors, as well as exports of high-tech products,” the commission explained in a statement.
The UK government has approved a new legal framework with which it can sanction companies and businessmen of “strategic importance” to Russia, in its quest to dissuade Moscow from withdrawing its troops near the Ukrainian border.
In a statement, the Ministry of Foreign Affairs assured that they are targeting Russian companies in sectors such as chemicals, defense, technology, communications and financial services.
At the center of the debate is the authorization of the Nord Stream 2 gas pipeline, which links Russia and Germany across the Baltic Sea. Although Europe and the United States are already looking for new energy supply providers, there is no certainty that they will be able to respond quickly to meet demand in the event of a supply interruption.
Russia is the bloc’s largest energy supplier, with roughly 40% of European gas imports coming from Russia. So far, tensions in Eastern Europe are keeping stock markets volatile. This Friday Wall Street closed with losses and the Industrial Dow Jones fell 1.43% as a result of growing fear of a Russian invasion of Ukraine.
with EFE
First modification:
Washington and its European allies threaten to apply harsh punishments against Russia should it invade Ukraine. As geopolitical tension mounts in Eastern Europe, stock markets brace for weeks of high volatility.
In the event Russia invades Ukraine, possible sanctions would target major Russian banks, although a ban on Russia’s participation in the SWIFT financial system would not be included, US and European officials said.
Among the sanctions being considered is the control of exports of components produced by Russia for the technological and weapons sectors, as well as sanctions against the close circle of President Vladimir Putin.
According to a Reuters source, the banks that would be subject to sanctions could include VTB and Sberbank, backed by the Russian state and which are Russia’s largest financial institutions, both already sanctioned by Washington.
“The goal is to design sanctions that really hit the Russians without losing sight of the collateral damage for those who impose them, recognizing that sanctions would clearly hit Europe the hardest,” one of the sources said.
Taking Russia out of the SWIFT financial system, which transfers money from one bank to another around the world, would become one of the toughest financial measures that could be taken in the event of an eventual invasion of Ukraine.
Ursula von der Leyen, president of the European Commission, reaffirmed that all options are on the table, after meeting with US President Joe Biden.
“President von der Leyen outlined the status of sectoral and individual sanctions in the event of further military aggression by Russia on Ukraine. She reaffirmed the fact that all options were on the table and that the sanctions would primarily involve the financial and energy sectors, as well as exports of high-tech products,” the commission explained in a statement.
The UK government has approved a new legal framework with which it can sanction companies and businessmen of “strategic importance” to Russia, in its quest to dissuade Moscow from withdrawing its troops near the Ukrainian border.
In a statement, the Ministry of Foreign Affairs assured that they are targeting Russian companies in sectors such as chemicals, defense, technology, communications and financial services.
At the center of the debate is the authorization of the Nord Stream 2 gas pipeline, which links Russia and Germany across the Baltic Sea. Although Europe and the United States are already looking for new energy supply providers, there is no certainty that they will be able to respond quickly to meet demand in the event of a supply interruption.
Russia is the bloc’s largest energy supplier, with roughly 40% of European gas imports coming from Russia. So far, tensions in Eastern Europe are keeping stock markets volatile. This Friday Wall Street closed with losses and the Industrial Dow Jones fell 1.43% as a result of growing fear of a Russian invasion of Ukraine.
with EFE
First modification:
Washington and its European allies threaten to apply harsh punishments against Russia should it invade Ukraine. As geopolitical tension mounts in Eastern Europe, stock markets brace for weeks of high volatility.
In the event Russia invades Ukraine, possible sanctions would target major Russian banks, although a ban on Russia’s participation in the SWIFT financial system would not be included, US and European officials said.
Among the sanctions being considered is the control of exports of components produced by Russia for the technological and weapons sectors, as well as sanctions against the close circle of President Vladimir Putin.
According to a Reuters source, the banks that would be subject to sanctions could include VTB and Sberbank, backed by the Russian state and which are Russia’s largest financial institutions, both already sanctioned by Washington.
“The goal is to design sanctions that really hit the Russians without losing sight of the collateral damage for those who impose them, recognizing that sanctions would clearly hit Europe the hardest,” one of the sources said.
Taking Russia out of the SWIFT financial system, which transfers money from one bank to another around the world, would become one of the toughest financial measures that could be taken in the event of an eventual invasion of Ukraine.
Ursula von der Leyen, president of the European Commission, reaffirmed that all options are on the table, after meeting with US President Joe Biden.
“President von der Leyen outlined the status of sectoral and individual sanctions in the event of further military aggression by Russia on Ukraine. She reaffirmed the fact that all options were on the table and that the sanctions would primarily involve the financial and energy sectors, as well as exports of high-tech products,” the commission explained in a statement.
The UK government has approved a new legal framework with which it can sanction companies and businessmen of “strategic importance” to Russia, in its quest to dissuade Moscow from withdrawing its troops near the Ukrainian border.
In a statement, the Ministry of Foreign Affairs assured that they are targeting Russian companies in sectors such as chemicals, defense, technology, communications and financial services.
At the center of the debate is the authorization of the Nord Stream 2 gas pipeline, which links Russia and Germany across the Baltic Sea. Although Europe and the United States are already looking for new energy supply providers, there is no certainty that they will be able to respond quickly to meet demand in the event of a supply interruption.
Russia is the bloc’s largest energy supplier, with roughly 40% of European gas imports coming from Russia. So far, tensions in Eastern Europe are keeping stock markets volatile. This Friday Wall Street closed with losses and the Industrial Dow Jones fell 1.43% as a result of growing fear of a Russian invasion of Ukraine.
with EFE