EU Weighs New Russia Sanctions, May Cut 20 Banks From SWIFT

Daleep Singh is regarded as an architect of Russia's sanctions. Here, Joe Biden's former vice-security consultant says what measures Europe should now adopt. This also includes targeting third countries.

The EU's 18th package of sanctions is designed to weaken Russia's economy. Brussels focuses on oil, gas and finance.

On Tuesday, the European Union approved its 17th package of sanctions against Russia for its military invasion of Ukraine, but is already considering another set of sanctions. According to Bloomberg sources, Brussels plans to disconnect more than two dozen Russian banks from the international payment system SWIFT, lower the price ceiling on Russian oil, or ban the operation of the Nord Stream gas pipeline.

The EU is preparing to exclude 20 banks from SWIFT as part of sanctions against Russia — Bloomberg: EADaily

EADaily, May 24th, 2025. The European Commission is considering the possibility of disconnecting more than 20 banks from the SWIFT system as part of a package of new sanctions against Russia, Bloomberg reports.

Although the new package of sanctions against Russia is rather symbolic, it still harms the country. Economist Gabriel Felbermayr warns against the real "thumbs" that would hit the aggressor really hard - for several reasons.

EU may cut over 20 Russian banks from SWIFT in new sanctions proposal

The EU is considering removing over 20 Russian banks from the global SWIFT payments system as part of a new sanctions package aimed at increasing pressure on Moscow to end its war in Ukraine.