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US & European Partners Finalizing Anti-Russia Sanctions, SWIFT Ban Off Table - Reports

© Photo : Facebook / SWIFT Community / The Society for Worldwide Interbank Financial Telecommunication (SWIFT)
The Society for Worldwide Interbank Financial Telecommunication (SWIFT) - Sputnik International, 1920, 12.02.2022
WASHINGTON (Sputnik) - The United States and its European partners are finalizing sanctions targeting major Russian banks should the Ukraine situation escalate, but banning Russia from the SWIFT financial system is off the table, Reuters reported citing US and European Union officials.
The report said on Friday that the sanctions could target VTB and Sberbank.
Banning Russia from SWIFT was taken out of consideration after objections from European countries, the report said.
US President Joe Biden and Russian President Vladimir Putin are scheduled to have a telephone call on Saturday about the situation over Ukraine.
U.S. President Joe Biden delivers remarks on Biden administration efforts to lower health care costs during a visit to Germanna Community College in Culpepper, Virginia, U.S., February 10, 2022. - Sputnik International, 1920, 11.02.2022
'That's a World War': Biden Tells Americans to Leave Ukraine, Shoots Down Reports of Evacuation
The precarious situation around Ukraine has worsened in recent weeks with the United States and the European Union raising concerns over Russian military buildup at the Ukrainian border, and NATO urging allies to boost their military support for Kiev.
The EU also expressed concerns over the possible disruption of Russia's energy supplies to Europe in the event of an escalation, while holding talks with the United States and other suppliers concerning the issue.
Russia in turn has on many occasions denied allegations of intending to invade its neighbor, pointing out that NATO's military activity near Russian borders poses a threat to its national security while hampering efforts toward peaceful resolution in Ukraine.
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