Act of war? Ukraine asks EU to consider cutting off Russia from SWIFT payment system as Kiev seeks more sanctions against Moscow | WHAT REALLY HAPPENED

Act of war? Ukraine asks EU to consider cutting off Russia from SWIFT payment system as Kiev seeks more sanctions against Moscow

Ukraine has requested that the European Union consider the possibility of disconnecting Russia from SWIFT, the international system of transfers between banks, suggesting that the measure be added to a new package of sanctions.

Moscow has previously warned it would consider the move “a declaration of war.” Former Prime Minister Dmitry Medvedev, who now serves as the deputy chairman of the Security Council of Russia, has also dubbed it a “punch in the gut.”

Ukrainian Foreign Minister Dmitry Kuleba told Reuters on Wednesday that he personally brought up the idea with his counterparts from the EU. Kuleba believes this measure could be used to deter Moscow in event of the situation in eastern Ukraine escalating.

“If Russia decides to launch another wave of its open military aggression against Ukraine, a new round of sectoral sanctions – including for example banning Russia from SWIFT and these kind of things – should be immediately imposed on it,” he told Reuters.

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