The single most powerful sanction Western countries could impose on Russia would be to cut it off from SWIFT. On Thursday, neither the EU nor the US could bring themselves to take this step. However, at a special summit, EU countries agreed to expand sanctions against Russia’s financial sector, which would cut off Russian banks from EU financial markets and prevent Russian state-owned companies from refinancing in the EU. More details are expected on Friday.
Continue reading now
Get 30 days of free access to the Decision Brief to read these and more quality news every day.
Are you already a guest at the China.Table? Log in now