Posted on 02/26/2022 8:39:01 PM PST by SeekAndFind
As we reported earlier, the EU had come around to the idea of cutting Russia from the SWIFT system in a limited way as long as it was directed to Russia.
Now, the European Commission, France, Germany, Italy, the United Kingdom, Canada, and the United States have issued a formal joint statement officially saying they are committed to cutting select Russian banks off from the SWIFT system.
BREAKING: US And EU agree to remove select Russian banks from SWIFT, impose restrictions on Russian Central Bank, and more: pic.twitter.com/PnLFgXcYET
— Jacqui Heinrich (@JacquiHeinrich) February 26, 2022
As Russian forces unleash their assault on Kyiv and other Ukrainian cities, we are resolved to continue imposing costs on Russia that will further isolate Russia from the international financial system and our economies. We will implement these measures within the coming days.
Specifically, we commit to undertake the following measures:
First, we commit to ensuring that selected Russian banks are removed from the SWIFT messaging system. This will ensure that these banks are disconnected from the international financial system and harm their ability to operate globally.
Second, we commit to imposing restrictive measures that will prevent the Russian Central Bank from deploying its international reserves in ways that undermine the impact of our sanctions.
Third, we commit to acting against the people and entities who facilitate the war in Ukraine and the harmful activities of the Russian government. Specifically, we commit to taking measures to limit the sale of citizenship—so called golden passports—that let wealthy Russians connected to the Russian government become citizens of our countries and gain access to our financial systems.
Fourth, we commit to launching this coming week a transatlantic task force that will ensure the effective implementation of our financial sanctions by identifying and freezing the assets of sanctioned individuals and companies that exist within our jurisdictions. As a part of this effort we are committed to employing sanctions and other financial and enforcement measures on additional Russian officials and elites close to the Russian government, as well as their families, and their enablers to identify and freeze the assets they hold in our jurisdictions. We will also engage other governments and work to detect and disrupt the movement of ill-gotten gains, and to deny these individuals the ability to hide their assets in jurisdictions across the world.
So, I guess the obvious question here is: if this is just “selected banks,” are there ways for Putin to skate away from this? What is the only “selected” protecting against, since that came from Germany’s insistence? It does target the Russian Central Bank, one of the things that Ukraine asked for.
NOTEWORTHY – these sanctions are limited, targeting select Russian banks, but it does "prevent the Russian Central Bank from deploying its international reserves in ways that undermine the impact of our sanctions". Targeting Russian Central Bank was a key request of Ukraine https://t.co/EpwzX6AAvg
— Jacqui Heinrich (@JacquiHeinrich) February 26, 2022
But, what prevents them from just shifting to other banks if you don’t shut them off completely? Perhaps a question for media to lay on Joe Biden and his team.
[We seem consumed with the sovereignty of foreign nations, while our own sovereignty is under attack and intentionally being eliminated.]
What dropping like a rock?
When you consider ETH was 200 bucks only a a few years ago that’s a 1300 percent profit in a few years.
It’s retraced a LOT, and it will go back up a LOT.
Especially now that we see currency can be frozen and locked up by our bull #### governments.
Don’t bother. Some just hate crypto...or anything too new.
Don’t bother. Some just hate crypto...or anything too new.
SELECT..ding ding ding...key word :)
You can shut down 4 SELECT donut shops in my area.
As long as a dozen others are left open :)
[You keep forgetting that Russia can just turn off the oil and gas and Europe sinks and implodes. They win over Europe without firing a shot.]
31 Fahrenheit in Berlin right now. Cut off swift, maybe no gas.
It’s getting warmer every week.
“beginning of the end of the dollar as the world’s reserve currency“
The Central Banks will get what they want, when they want it. That is, total control, digital currency, their own crypto, end of bitcoin, etc. Nothing can stop them, IF that’s what they want.
The Germans hadn’t stopped buying Russian Gaz as of a few days ago. Perhaps outsourcing energy policy to an autistic Nordic teenager was not wise?
The key word is "select". That means Russia still has the ability to move money via SWIFT.
Now ask yourselves this question: Who's making money off of these "select" banks that still have the capability to move money into & out of Russia?
Russia's #1 export is OIL. That means Russia is still getting PAID for oil, and their oil proceeds will be what funds Russia's $20B dollars/day war in Ukraine.
It's ALWAYS "follow the money" ... no matter what the problem is, FOLLOW THE MONEY.
Who's getting paid to move money into and out of Russia via these "select" banks?
I'm going to ask the folks who run our SWIFT systems tomorrow which Russian "select" banks can still move money. Likely those banks will be controlled by a handful of Russian Oligarch's.
Anyone want to bet on that?
Yep. Beat me to it.
These "select" banks will be held by Russian Oligarch's who control Russia's energy sector.
See my post above. I'm going to do what I can to find out which Russian "select" banks are still on SWIFT tomorrow and if I can, I'll post those names here on FR.
My bet is, they're Oligarch controlled banks and there some form of quid pro quo going on. Always follow the money.
What stops them from laundering their money through belarus or china?
So how are we paying Russia for the oil and gas we are buying from them daily? I’m sure they are not donating it to us.
There’s always pallets of U.S. dollars like Obama. I haven’t heard Biden say that he’s stopped buying their oil
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