Russia's disconnection from SWIFT is getting closer: Cyprus will not block the decision

Cyprus announced that it will not block the disconnection of Russia from SWIFT. Italy also agreed to such a step.

This information was announced by the Ukrainian Foreign Minister Dmitry Kuleba.

Withdrawal of Russia from SWIFT will make it almost impossible for financial institutions to send money to the country or abroad. This will seriously affect Russia's business with foreign clients and could cause real damage to the country's economy.

Earlier it was reported that there was a real possibility that the European Union may cut Russia off SWIFT, a high-security payment network that connects thousands of financial institutions around the world.

"High-ranking EU sources told CNN that there was a gap between the positions of some member states such as Poland, Estonia, Latvia and Lithuania that want to disconnect from SWIFT as a part of the sanctions package to be announced later on the one hand; and countries such as Germany, Italy, Hungary and Cyprus that have stronger economic ties with Russia and do not want SWIFT to be included in the new sanctions," it was reported earlier.

Reminder:

Foreign Minister Dmitry Kuleba demands to disconnect Russia from the SWIFT payment system.

As reported, at 7 pm Biden will make an announcement on new sanctions and weapons for Ukraine. The EU promises to impose tough sanctions within 24 hours.