FT: EU plans to disconnect three more Russian banks from SWIFT

The European Union, within the framework of the ninth package of sanctions, may impose a ban on transactions with three more Russian banks, transmits newspaper The Financial Times, citing sources familiar with the negotiations. About which banks in question, the publication does not report.

Ten Russian banks, including the largest ones, have already been disconnected from SWIFT: Sberbank, VTBMoscow credit bank, RosselkhozbankFC “Opening“, “Russia”, Promsvyazbank, Sovcombank, Novikombank and VEB.RF.

The European Commission should also propose a ban on new investment in Russia’s mining sector. The mining investment ban, which will have exemptions for some specific products, is part of a ninth EU sanctions package that officials plan to discuss with member states in the coming days and hope to agree on by the end of next week.

The package, which requires the unanimous approval of 27 EU states and is still subject to change, also includes increased export controls on technologies that Brussels says Russia uses to support its arms factories and sanctions against 180 additional individuals, the sources said.

The EU, along with the US, UK and other Western countries, has already imposed eight packages of sanctions against Russia, targeting banks, defense companies, oil and gas producers and other sectors of the country’s economy, as well as hundreds of government officials, businessmen, journalists and others.

On December 5, the Politico newspaper, citing diplomats, reported that the ninth package of EU anti-Russian sanctions could affect the areas of technology, finance and media. The interlocutors of the newspaper claim that the EU countries can come to an agreement even before the meeting of the Foreign Affairs Council and the EU summit, which will be held next week.

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