German Chancellor Olaf Scholz, left, in conversation with European Council President Charles Michel. Photo: EPA
The fear is that excluding Russia from international banking will also have consequences for Western economies. Should such sanctions still be imposed?
The US sanctions against Russia are intended, according to Biden, to make Russia “a pariah” on the international stage. Nevertheless, Russia is not yet excluded from Swift, the system that regulates international financial traffic between banks.
Ukrainian President Zelensky called on the West to decouple Russia from this. Biden says that’s still an option. “But European allies don’t want that yet.”
The fear is that excluding Russia from international banking will also have consequences for Western economies. Should such sanctions still be imposed, even if we are affected by them ourselves?
