Reported about 19 hours ago
The European Union is considering removing more than 20 banks from SWIFT as part of a new sanctions package aimed at increasing pressure on Russia to end its war in Ukraine. Along with cutting ties to SWIFT, the EU plans to lower the price cap on Russian oil and ban the Nord Stream gas pipelines. Discussions are ongoing, with the EU seeking broader support from its member states and potential backing from the US, especially regarding oil price regulations. Additionally, measures are being planned to phase out Russian fossil fuels by 2027 and further sanction Russian entities aiding the war effort.
Source: YAHOO