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A European is close to an agreement on the “fatal” punishment for Russia

The official, who asked not to be identified, added that no EU member state prevents Russia from being isolated from the system but talks are still ongoing.

Earlier, US President Joe Biden said that removing Russia from the Swift system for banking financial transactions is still an “option”.

But Biden indicated that the decision is not yet accepted among Europeans, considering that the other package of sanctions imposed by the United States and its allies on Russia will have “the same effect.”

While France announced its support for excluding Russia from the remittance system, which countries such as Ukraine, the Czech Republic and Britain share with it, Germany said that it did not oppose such a step and “but we are thinking about the consequences.”

Kiev demanded that Moscow be excluded from the SWIFT system in response to the invasion of its territory by Russian forces, and Ukrainian President Volodymyr Zelensky wrote on Twitter: “We demand the exclusion of Russia from the SWIFT system and the imposition of a no-fly zone over Ukraine.”

According to CNN, if Russia is isolated from the Swift system, it will become impossible for financial institutions there to send money in or out of the country, which puts major Russian companies in a state of shock, especially for oil and gas buyers.

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