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EU intends to impose sanctions against Moscow Credit Bank and Rosselkhozbank

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The European Commission proposes to exclude Moscow Credit Bank and Rosselkhozbank from the SWIFT international payment system

EU intends to impose sanctions against Moscow Credit Bank and Rosselkhozbank

The European Commission is going to propose to exclude the Russian banks Moscow Credit Bank and Rosselkhozbank from the SWIFT international payment system, four EU diplomats told POLITICO.

Sberbank will also be subject to a new package of sanctions, as European Commission President Ursula von der Leyen previously suggested.

The proposed sanctions against these banks follow earlier EU decisions to exclude other Russian financial companies from SWIFT. The goal is to increase economic pressure on Moscow.

The sixth package of sanctions against Russia will also include the Russian oil industry and a number of new listings. Details of the Commission's plan are expected to be announced before lunch today.

The head of European diplomacy, Josep Borrell, this week officially announced new disconnections of Russian banks from SWIFT, but did not specify which credit institutions they are talking about. Previously, VTB, Otkritie, Novikombank and Sovcombank were subject to blocking sanctions.

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