European Parliament to consider Russia's disconnection from SWIFT

The European Parliament included a proposal to disconnect Russia from SWIFT international payment system in its resolution, RIA Novosti reports.

Reportedly, in the draft document, MEPs also propose to refuse from the Russian oil and gas and to stop the construction of the Nord Stream-2 gas pipeline. Such measures are to be taken in the event that Moscow "continues its aggression in Ukraine." 

The European Parliament also urges Russia to end the unjustified military build-up that threatens its neighbors.

A proposal to introduce separate sanctions against Russian oligarchs (for corruption) is also listed in the resolution.

On April 26, the largest faction in the European Parliament, the European People's Party, proposed to disconnect Russia from SWIFT.

SWIFT is an international system for transferring information and making payments between banks. More than 11,000 companies in 200 countries of the world are connected to it. Russia is one of the most active participants in the system.

Russia can have its own SWIFT already

Russian Foreign Minister Sergei Lavrov commented on the possibility of creating an analogue of the SWIFT international payment system in the country. According to the minister, Russia already has an appropriate base for this. 

“I am convinced that both the government and the Central Bank should do their best to ensure that this base guarantees complete independence and protection against damage that someone may try to inflict on us additionally,” he stressed.

On April 26, the largest faction in the European Parliament, the European People's Party (EPP), proposed to disconnect Russia from SWIFT international payment system. A EPP representative expressed disagreement with the decision of EU foreign ministers not to impose additional sanctions against Russia either in connection with the alleged involvement of Russian special services in the explosions at the ammunition depot in Vrbetice, the Czech Republic, or the situation around Alexei Navalny.