EU sanctions slew blocks banks from SWIFT, sanctions Sputnik and others
On 2 March, ramping up sanctions against the Russia in response to its ‘military aggression against Ukraine’, the European Union announced a number of measures. This included naming the banks which are prohibited from ‘the provision of specialised financial messaging services, which are used to exchange financial data (SWIFT)’. They are: Bank Otkritie, Novikombank, Promsvyazbank, Rossiya Bank, Sovcombank, VNESHECONOMBANK (VEB), and VTB BANK.
This prohibition, which enters into force on 12 March, will also apply to ‘any legal person, entity or body established in Russia whose proprietary rights are directly or indirectly owned for more than 50% by the above-mentioned banks.’
The new measures also hold that: ‘It shall be prohibited to invest, participate or otherwise contribute to projects co-financed by the Russian Direct Investment Fund,’ and to ‘sell, supply, transfer or export euro denominated banknotes to Russia or to any natural or legal person, entity or body in Russia, including the government and the Central Bank of Russia, or for use in Russia.’
The EU notes that the decisions complement ‘the package of measures announced by the High Representative after the video conference of EU Foreign Affairs Ministers of 27 February. Such package also includes the provision of equipment and supplies to the Ukrainian Armed Forces through the European Peace Facility, a ban on the overflight of EU airspace and on access to EU airports by Russian carriers of all kinds, a ban on the transactions with the Russian Central Bank, and the prohibition for state-owned media Russia Today and Sputnik to broadcast in the EU.’
The EU ‘condemns in the strongest possible terms the Russian Federation’s unprovoked and unjustified military aggression against Ukraine, and demands that Russia immediately ceases its military actions, unconditionally withdraws all forces and military equipment from the entire territory of Ukraine and fully respects Ukraine’s territorial integrity, sovereignty and independence within its internationally recognised borders.’
Sputnik and Russia Today ‘instrumental in supporting the military aggression’
On the same day, the Council said that the EU ‘will urgently suspend the broadcasting activities of Sputnik’ and RT/Russia Today (RT English, RT UK, RT Germany, RT France, and RT Spanish) in the EU, or directed at the EU, until the aggression to Ukraine is put to an end, and until the Russian Federation and its associated outlets cease to conduct disinformation and information manipulation actions against the EU and its member states.’
It said Sputnik and Russia Today ‘are under the permanent direct or indirect control of the authorities of the Russian Federation and are essential and instrumental in bringing forward and supporting the military aggression against Ukraine, and for the destabilisation of its neighbouring countries.’
EU High Representative Josep Borrell said, ‘Systematic information manipulation and disinformation by the Kremlin is applied as an operational tool in its assault on Ukraine. It is also a significant and direct threat to the Union’s public order and security. Today, we are taking an important step against Putin’s manipulation operation and turning off the tap for Russian state-controlled media in the EU. We have already earlier put sanctions on leadership of RT, including the editor-in-chief [Margarita] Simonyan, and it is only logical to also target the activities the organisations have been conducting within our Union.’
