European Parliament Seeks SWIFT Shut-Off For Russia "If Ukraine Aggression Continues"
Days after President Putin warned the West of a "harsh" and "asymmetrical" response if it crosses Russia's 'red line' concerning NATO troop positioning and the recently renewed Ukraine standoff, the European Parliament in Brussels has proposed a new resolution to disconnect Russia from the SWIFT payment system.
Dated Wednesday, April 28, it's entitled, "European Parliament resolution on Russia, the case of Alexei Navalny, the military build-up on Ukraine’s border and Russian attacks in the Czech Republic." The over 50 European Parliament lawmakers cited "aggression and continued destabilization of Ukraine, hostile behavior towards and outright attacks on EU member states and societies."
It further appears a 'preventative' and threatening measure in the instance of any future scenario of major Russian troop build-up in Crimea and along Ukraine's border such as occurred over the last month. Despite the Kremlin last week ordering a troop draw down after the conclusion of Black Sea military drills, the EU is clearly seeking to drastically beef up the "cost" automatically imposed on Russia for "threats" against Ukrainian sovereignty.
Here's what the key section of the new punitive resolution says on SWIFT:
…Underscores that if such a military build-up were in the future to be transformed into an invasion of Ukraine by the Russian Federation, the EU must make clear that the price for such a violation of international law and norms would be severe; insists, therefore, that in such circumstances imports of oil and gas from Russia to the EU be immediately stopped, while Russia should be excluded from the SWIFT payment system, and all assets in the EU of oligarchs close to the Russian authorities and their families in the EU need to be frozen and their visas cancelled;
https://www.zerohedge.com/geopolitical/european-parliament-seeks-swift-shut-russia-if-ukraine-aggression-continues