MOSCOW, February 24. /TASS/. The European Union is unlikely to take steps to cut Russia off from the SWIFT interbank payments systems at this stage, Reuters reported citing sources in the EU on Thursday.
Unplugging Russia from SWIFT is unlikely now as the move will have extensive consequences particularly in Europe, sources said.
Earlier, the foreign ministers of the Baltic states called to impose the strictest sanctions against Moscow, including stopping Russia's access to SWIFT.
On February 23, the European Union introduced new sanctions against Russia after its recognition of the independence of the Lugansk and Donetsk People’s Republics, including restrictions against 351 MPs of Russia’s State Duma (lower house) and 27 legal entities and individuals, restricted access of the state and the government to the European financial market, as well as the ban for European business to conduct any economic operations with the Lugansk and Donetsk People’s Republics.
On February 21, Russian President Vladimir Putin recognized the sovereignty of the DPR and LPR (the Donetsk and Lugansk People's Republics). Subsequent agreements on friendship, cooperation, and mutual assistance were signed with their leaders.