The EU decides on sanctions against Russia, but the exclusion from the Swift financial system is not forthcoming for the time being. Germany prevailed, but drew harsh criticism from Eastern Europe.
Munich/Brussels – They haven’t been sitting together for long when the EU heads of state and government have already reached their goal. Council President Charles Michel sends out a statement in which all 27 member states unanimously condemn Russian aggression in Ukraine and announce harsh countermeasures. The special summit was not even an hour old. The statement reads like a document of unity.
In truth, the evening develops less harmoniously. Because it is only after the declaration has been sent that the debates pick up speed, and they don’t go so smoothly. The group meets for five more hours, during which time they decide on numerous sanctions. However, one does not appear on the list.
Sanctions against Russia: EU remains open to exclusion from financial system
Russia’s exclusion from the global financial system Swift is postponed. The driving force behind this is Olaf Scholz, who explains the reluctance upon his arrival by saying that the EU must keep options open “for a situation where it is necessary to do other things as well”. After the summit, the Chancellor left Brussels without appearing before the press. His spokesman explains the rejection on Friday with the technical effort. An exclusion would also have had “massive effects on payment transactions in Germany and for German companies doing business with Russia”.
The Germans are not alone in their defensive stance, which contradicts the grandiose announcements of the toughest sanctions. Italy, Cyprus, Hungary and Austria are also skeptical about Swift. Austria’s Chancellor Karl Nehammer argues that a ban would “affect the Russian Federation less than the EU”. Moscow can still process money transfers through its own payment system or a Chinese one.
Sanctions against Russia: criticism against Scholz, especially from Eastern Europe
Above all, it is Scholz that the criticism is aimed at. She comes from Eastern Europe, where Moscow’s lust for power is particularly sensitive. Polish opposition leader and former EU Council President Donald Tusk fumes that those who “blocked tough decisions” have “brought shame on themselves”. Ukrainian Foreign Minister Dmytro Kuleba put it even more savagely: “Anyone who doubts whether Russia should be excluded from Swift will have the blood of innocent Ukrainian men, women and children on their hands.”
Czech President Milos Zeman appealed with a view to Vladimir Putin: “You have to isolate the madman.” His Latvian counterpart Egils Levits would also have liked stricter measures to cut off “this criminal regime” from all connections: “Similar to North Korea.”
Sanctions against Russia: will Lindner and Co. give in?
Dealing with Swift is also controversial in Germany. CSU Vice Manfred Weber discussed an exclusion in December, CDU leader Friedrich Merz immediately rejected it, but corrected himself later. Federal Finance Minister Lindner initially argued that the Russian financial sector would be isolated even without exclusion. In individual cases, however, transactions are still possible, for example to pay for gas deliveries. He is concerned about their settlement.
On Friday evening, however, there are signs of a turn. One is now ready to cut Russia’s connection to the Swift system, says Lindner. The talks about stricter measures should therefore continue to gain momentum. Belgian Prime Minister Alexander de Croo’s demand that a third round of sanctions should not take place was already invalidated the next morning. Then Charles Michel tweeted that another package was being “urgently prepared”. – mb
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